Statistics Canada reports wholesale sales rose 1.7 per cent in April
The Canadian PressIndustry Transportation
OTTAWA – Statistics Canada says wholesale sales increased 1.7 per cent to $65.3 billion in April, boosted by the motor vehicle and motor vehicle parts and accessories subsector.
The result topped the 0.2 per cent gain that had been expected on average by economists, according to Thomson Reuters Eikon.
Sales were up in five of seven subsectors accounting for 86 per cent of total wholesale sales.
Wholesale sales in the motor vehicle and motor vehicle parts and accessories subsector rose 3.2 per cent to $11.8 billion, the highest level since November 2017.
The machinery, equipment and supplies subsector increased 2.2 per cent to $13.9 billion.
Wholesale sales rose 1.6 per cent in volume terms.