Statistics Canada says wholesale sales grew in August but at a slower pace
Posted Oct 19, 2020 6:31 am.
Last Updated Oct 19, 2020 7:15 am.
OTTAWA — Statistics Canada says wholesale sales edged up 0.3 per cent in August to advance for a fourth consecutive month, though at a much slower pace.
The agency says wholesale sales were up 0.3 per cent to $65.7 billion in August.
The increase compared with a rise of 5.2 per cent in July and 18.5 per cent in June.
The result for August matched the average expectations of economists, according to financial data firm Refinitiv.
Four of seven subsectors increased in August as sales in the building material and supplies subsector rose 7.0 per cent to hit a record high of $9.8 billion and the motor vehicle and motor vehicle parts and accessories subsector grew 2.5 per cent to $10.9 billion.
In volume terms, wholesale sales increased 0.1 per cent in August.
Statistics Canada says wholesale sales in August were 1.7 per cent above pre-COVID-19 levels.
This report by The Canadian Press was first published Oct. 19, 2020.
The Canadian Press
