Statistics Canada says wholesale sales grew in August but at a slower pace
The increase compared with a rise of 5.2% in July and 18.5% in June
OTTAWA — Statistics Canada says wholesale sales edged up 0.3% in August to advance for a fourth consecutive month, though at a much slower pace.
The agency says wholesale sales were up 0.3% to $65.7 billion in August.
The increase compared with a rise of 5.2% in July and 18.5% in June.
The result for August matched the average expectations of economists, according to financial data firm Refinitiv.
Four of seven subsectors increased in August as sales in the building material and supplies subsector rose 7.0% to hit a record high of $9.8 billion and the motor vehicle and motor vehicle parts and accessories subsector grew 2.5% to $10.9 billion.
In volume terms, wholesale sales increased 0.1% in August.
Statistics Canada says wholesale sales in August were 1.7% above pre-COVID-19 levels.