Canadian wholesale trade advanced by a more-than-expected 0.6 per cent in June from May, and the volume of sales grew 0.7 per cent, with advances in most sectors offsetting declines in autos and personal and household goods.
Statistics Canada on Wednesday also revised up May’s monthly gain to 2.3 per cent from 2.2 per cent. The median forecast in a Reuters survey of analysts was for a 0.4 per cent gain in June.
The 2.4 per cent decline in the auto industry followed an outsized gain of 9.8 per cent in May. Excluding autos and parts, wholesale trade rose 1.2 per cent.
Building materials rose 2.2 per cent to a record level, marking its sixth consecutive rise. The “miscellaneous” sector, which includes agricultural supplies, logs, minerals and precious metals, rose 3.1 per cent.
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