Canada Wholesale Sales Estimated to Have Fallen 1.1% in July

Robb M. Stewart

OTTAWA--An advance estimate of Canadian wholesale trade indicates sales continued to fall last month on the back of ongoing weakness in the automotive sector.

Statistics Canada on Tuesday said an advance tally of wholesale sales points to a decline of 1.1% in July from the month before.

The estimates show that sales were lower in motor vehicles and vehicle parts and accessories, and in personal and household goods.

June sales in the wholesale sector were down 0.6% from the month before to a seasonally adjusted 82.41 billion Canadian dollars, the equivalent of US$61.1 billion, the data agency reported earlier this month. The fall was driven by a further retreat in sales of motor vehicles, as well as a drop in sales of farm, lawn and garden equipment.

Including sales by petroleum, oilseed and grain merchants--the headline measure Statistics Canada is transitioning to--wholesale sales were 1.8% lower than in May at C$118.77 billion.

The estimate for July was based on a weighted response rate to Statistics Canada's survey of 61.4% as data for the month continues to be collected. The data agency is scheduled to release official wholesale trade data Sept. 13.

Wholesalers--the largest component of Canada's services sector--connect farmers or manufacturers that produce goods with companies and public institutions that use them. They also import goods from other countries and redistribute them within Canada.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

August 27, 2024 08:52 ET (12:52 GMT)

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