OTTAWA (Reuters) - Canadian wholesale trade advanced by a more-than-expected 0.6 percent in June from May, and the volume of sales grew 0.7 percent, with advances in most sectors offsetting declines in autos and personal and household goods.
Statistics Canada on Wednesday also revised up May’s monthly gain to 2.3 percent from 2.2 percent. The median forecast in a Reuters survey of analysts was for a 0.4 percent gain in June.
The 2.4 percent decline in the auto industry followed an outsized gain of 9.8 percent in May. Excluding autos and parts, wholesale trade rose 1.2 percent.
Building materials rose 2.2 percent to a record level, marking its sixth consecutive rise. The “miscellaneous” sector, which includes agricultural supplies, logs, minerals and precious metals, rose 3.1 percent.
Reporting by Randall Palmer; Editing by Bernadette Baum