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Canadian wholesale sales eased slightly in July, as motor vehicle sales dropped for the first time since April.
Wholesale sales edged down 0.1% in July to C$43.9 billion dollars, following 0.3% decline in June, according to Statistics Canada.. Excluding the motor vehicle and parts subsector, wholesale sales rose 0.6%.
Economists were expecting wholesale sales to rise 0.5%.
Motor vehicle and parts sales fell 3.2% in July, while food, beverages and tobacco products rose 2.3%.
The food product industry rose 2.7% in July after posting a loss of 1.6% the previous month. This was the industry's eighth sales increase in nine months.
Wholesale sales were up 4.9% compare to the same month a year ago.
Wholesale trade inventories rose 0.5% to C$53.1 billion in July, their fifth increase in six months.
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