Wholesale sales posted fourth consecutive monthly gain
The growth was led by the motor vehicle and parts subsector and the food, beverage and tobacco subsectors
OTTAWA—Statistics Canada says wholesale sales climbed 0.3 per cent to $56.5 billion in July, the fourth consecutive monthly increase.
Economists had expected a gain of 0.2 per cent, according to Thomson Reuters.
Statistics Canada says five of seven subsectors gained ground, led by the motor vehicle and parts subsector and the food, beverage and tobacco subsector.
Wholesale sales were unchanged in July in volume terms.
The motor vehicle and parts subsector posted the largest increase in dollar terms in July as it grew by 2.0 per cent to $11.1 billion.
The food, beverage and tobacco subsector increased 1.2 per cent to $11.0 billion.