OTTAWA – Statistics Canada says wholesale sales increased 1.7% to $65.3 billion in April, boosted by the motor vehicle and motor vehicle parts and accessories subsector.
The result topped the 0.2% gain that had been expected on average by economists, according to Thomson Reuters Eikon.
Sales were up in five of seven subsectors accounting for 86% of total wholesale sales.
Wholesale sales in the motor vehicle and motor vehicle parts and accessories subsector rose 3.2% to $11.8 billion, the highest level since November 2017.
The machinery, equipment and supplies subsector increased 2.2% to $13.9 billion.
Wholesale sales rose 1.6% in volume terms.News from © Canadian Press Enterprises Inc. 2020