Canada wholesale trade for April – 2.3% versus -0.9% estimate

• Prior month +0.2%
• Wholesale trade for April -2.3% versus -0.9% expected

• Sales declined in 6 of 7 subsectors, accounting for 81.6% of total wholesale sales.

• The motor vehicle and parts subsector saw the largest drop: -6.5% to $14.3 billion.

• Year-over-year, wholesale sales were up 0.1% in April.

• In volume terms, wholesale sales (excluding specified categories) decreased 2.2% in April.

Details

• After leading the increase in wholesale sales in March, sales in the motor vehicle and motor vehicle parts and accessories subsector decreased 6.5% in April to reach $14.3 billion.
• In April, seven provinces recorded a decrease in wholesale sales, with Ontario leading the way.
• Wholesale inventories (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) were down 0.2% to $129.4 billion in April.

This article was written by Greg Michalowski at www.forexlive.com.