Canadian Wholesale Revenues Rise 0.5% in August
Release taken from Statistics Canada, http://www.statcan.ca/
A pullback in the automotive sector was not enough to dampen wholesale sales in August, as wide ranging gains in other sectors led the wholesale industry to its third increase in four months.
Wholesale sales rose 0.5% to $42.6 billion in August, following a 2.2% rise in July. The increase came despite a large drop (-7.4%) in automotive product sales, which returned to more normal levels after posting very strong growth in July. This sector accounts for approximately one-fifth of all wholesale sales, so any significant drop will normally be reflected in the overall wholesale number.
Outside of the automotive sector, sales advanced ...