Canadian Wholesale Sales Up 2.1% in July
Canadian wholesale revenues reached a new high in July, buoyed by a surge in the sale of automotive products. Sales increased by 2.1% to $42.4 billion (Canadian) in July, more than reversing a 0.8% drop in June. The lion's share of July's advance came from the automotive sector, which posted its largest monthly increase in nearly a year.
Excluding the automotive sector, sales rose by 0.6%.Most of the remaining growth came from the "other products" (+3.1%) sector, which is mainly made up of wholesalers of recycled metals, chemicals and seeds, and the machinery and electronic equipment (+2.8%) sector. Only two of the seven wholesale sectors registered declines in July: building materials (-2.7%) and personal and household goods ...