Wholesale sales reverse growth with a slight dip
The 0.1 per cent drop surprised economists, who predicted a 0.2 per cent gain
OTTAWA—Statistics Canada says wholesale sales edged down 0.1 per cent to $55.3 billion in August.
Economists had expected a gain of 0.2 per cent, according to Thomson Reuters.
In volume terms, wholesale sales fell 0.5 per cent in August.
Statistics Canada says four subsectors, including the machinery, equipment and supplies subsector, were lower.
Higher sales in the miscellaneous subsector partially offset some of the declines.
Sales were down in six provinces led by Ontario, which saw sales fall 1.1 per cent to $27.7 billion.