Statistics Canada says wholesale sales rose 1.0 per cent in April, beating estimate
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OTTAWA — Wholesale sales in Canada were better than expected in April as they advanced 1.0 per cent to $61.0 billion, led by the machinery, equipment and supplies subsector.
Economists had expected an increase of 0.5 per cent, according to Thomson Reuters.
Statistics Canada says three of the seven subsectors tracked, accounting for 41 per cent of total wholesale sales, moved higher for the month. In volume terms, sales increased 0.7 per cent for the month.
The machinery, equipment and supplies subsector recorded the largest gain in dollar terms as it increased 7.3 per cent to $12.4 billion.
Sales in the food, beverage and tobacco subsector rose 1.5 per cent to $11.8 billion.
Meanwhile, the motor vehicle and parts subsector fell 1.7 per cent to $11.3 billion. The building material and supplies subsector also fell 1.0 per cent, its first move lower since November 2016.