Wholesale sales gains boosted by machinery, equipment and supplies in August
Ottawa – Statistics Canada says wholesale sales gained 0.8 per cent to $56.8 billion in August, boosted by the miscellaneous and machinery, equipment and supplies subsectors.
Economists had expected a gain of 0.6 per cent, according to Thomson Reuters.
Wholesale sales in volume terms were up 0.8 per cent.
Statistics Canada says five of the seven subsectors posted gains.
The miscellaneous subsector recorded the largest increase in dollar terms as it increased 3.9 per cent to $7.2 billion, boosted by sales in the agricultural supplies industry.
Wholesalers in the machinery, equipment and supplies subsector grew by 1.3 per cent at $11.4 billion, the highest level since January 2016.