Machinery, equipment and supplies lead the increase
June 20, 2017
The Canadian Press
OTTAWA—Wholesale sales in Canada were better than expected in April as they advanced 1.0 percent to $61.0 billion, led by the machinery, equipment and supplies subsector.
Economists had expected an increase of 0.5 percent, according to Thomson Reuters.
Statistics Canada says three of the seven subsectors tracked, accounting for 41 percent of total wholesale sales, moved higher for the month. In volume terms, sales increased 0.7 percent for the month.
The machinery, equipment and supplies subsector recorded the largest gain in dollar terms as it increased 7.3 percent to $12.4 billion.
Sales in the food, beverage and tobacco subsector rose 1.5 percent to $11.8 billion.
Meanwhile, the motor vehicle and parts subsector fell 1.7 percent to $11.3 billion. The building material and supplies subsector also fell 1.0 percent, its first move lower since November 2016.News from © Canadian Press Enterprises Inc. 2016