• Canada’s wholesale sales rise more than anticipated in July

Notícias do Mercado

18 setembro 2020

Canada’s wholesale sales rise more than anticipated in July

Statistics Canada reported on Friday the wholesale sales rose 4.3 percent m-o-m to CAD64.97 million in July, following an unrevised 18.5 percent m-o-m climb in June.

Economists had forecast a 3.5 percent m-o-m increase for July.

According to the report, sales increased in six of seven subsectors. The motor vehicle and motor vehicle parts and accessories (+19.3 percent m-o-m) subsector contributed the most to the growth in July. Excluding this subsector, wholesale sales rose 1.8 percent m-o-m.

In y-o-y terms, wholesale sales increased 0.7 percent in July.

Meanwhile, wholesale inventories dropped 0.4 percent m-o-m in July. Inventories decreased in five of seven subsectors, with the machinery, equipment and supplies (-2.5 percent m-o-m) and the motor vehicle and motor vehicle parts and accessories (-3.0 percent m-o-m) subsectors recording the largest declines. The inventory-to-sales ratio declined from 1.45 in June to 1.39 in July, the lowest level since October 2018. 

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