20.09.201009:39:00UTC+00Canadian Wholesale Sales Edged Slightly Lower In July

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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