Statistics
Canada reported on Friday that wholesale sales (excluding petroleum and oilseed
and grain) advanced 0.1 per cent m-o-m to CAD84.20 billion in May, following an
unrevised 2.3 per cent m-o-m decline in April.
Economists had forecast
a 0.4 per cent m-o-m fall for May.
According to
the report, sales gained in
five of the seven subsectors, accounting for 60.4 per cent of total wholesale sales. The farm
product, excluding oilseed and grain (+5.3 per cent m-o-m), personal and
household goods (+3.5 per cent m-o-m) and motor vehicle and motor vehicle parts
and accessories (+2.2 per cent m-o-m) subsectors posted the largest increases
in sales in May. Meanwhile, the machinery,
equipment and supplies (-3.3 per cent m-o-m), and food, beverage and tobacco
(-1.1 per cent m-o-m) subsectors demonstrated declines.
In y-o-y terms,
wholesale sales (excluding petroleum, petroleum products, and other
hydrocarbons and excluding oilseed and grain) jumped 1.8 per cent in May.