Wholesale trade falls 2.8% in June to $48.8B: StatsCan
Agency says Ontario alone accounted for close to 70 per cent of total drop in sales
OTTAWA—Statistics Canada says wholesale trade fell 2.8 per cent to $48.8-billion in June after two months of gains.
The federal agency says the drop was widespread, which sales down in all subsectors in June.
It says that in volume terms, wholesale sales were down 2.9 per cent.
The biggest drop in dollar terms was in the miscellaneous subsector, which fell eight per cent because of a steep decrease in the agricultural supplies industry, the first such loss after six months in a row of gains.
Statistics Canada says sales were down in seven provinces in June, with Ontario alone accounting for close to 70 per cent of the total drop in sales.
The agency says inventories rose 0.8 per cent to $62.4-billion in June—the fifth increase in six months.
It says five of the seven subsectors registered higher inventories.