“Wholesale sales rose for the third time in five months, up 1.5% to $63.9 billion in July, more than offsetting the 0.9% decline in June,” Statistics Canada reported on Monday.
Key takeaways from the press release
- Sales were up in four of seven subsectors, representing approximately 66% of total wholesale sales.
- The personal and household goods subsector rose for the second consecutive month, up 4.2% to $9.2 billion in July.
- Wholesale inventories increased for the fifth time in seven months, up 1.4% to $87.1 billion in July.