20.09.201009:48:00UTC+00Canada July Wholesale Trade Down 0.1pct On Weak Motor Sales

News

• The Canadian wholesales trade unexpectedly fell 0.1 pct in July from June on weaker sales of motor vehicles. Statistics Canada data 
• Market traders had expected a 0.3 pct increase over June. In volume terms, wholesale trade dropped 0.3 pct.
• The manufacturing and employment has prompted analysts to predict Q2 economic growth in Canada to be about half the 6 pct annualized rate seen Q1.
• The biggest drop in wholesale sales came in the motor vehicle and parts subsector, which fell 3.2 pct. Excluding the subsector, sales rose 0.6 pct.
• Wholesale inventories climbed 0.5 pct in July to their highest level since August 2009, led by industrial machinery, food products and lumber.