Wholesale sales advanced for the fourth consecutive month in June, Statistics Canada said today. Wholesale sales rose 0.6% to $37.8 billion.
According to StatscCan, the June increase was largely attributable to the automotive sector. Excluding this sector, sales declined 0.4%.
“Advances were recorded in seven of the 15 wholesale trade groups in June, accounting for 55% of total sales.”
Vehicle sales jumped 4% to $6.5 billion in June, offsetting a 1.6% decline in May.
Sales have been generally climbing since September 2003, the agency said. Prior to that, sales went through a slump that began in March 2003.
Meanwhile, wholesalers posted their best quarterly gains in a decade in the second quarter, StatsCan said.
“After a fairly lacklustre start to the year, wholesale sales surged in the second quarter, posting their best gains -5.1% – in the last 10 years,” the agency said. Not since the third quarter of 1993, when wholesale sales rose by 6.3%, has there been a better showing.
“More than a third of the second-quarter growth was attributable to motor vehicle sales,” StatsCan said.