Statistics Canada released wholesale sales figures on Thursday. Wholesale sales increased 1.3% in June, exceeding expectations for a 1.0% rise, after a 0.9% drop in May. May's figure was revised up from a 1.0% decrease.

The increase was driven by higher sales in the motor vehicle and parts subsector. Sales of automobiles and parts jumped 3.0% in June.

Sales in the machinery, equipment and supplies subsector rose 1.3% in June, sales in the personal and household goods subsector increased 2.2%, while sales in the food, beverage and tobacco subsector was up 1.2%.

Sales rose in five of the seven subsectors.

Inventories climbed by 1.1% in June.