(RTTNews) - Canadian wholesales sales edged slightly higher in June following a much bigger increase the month before, official data showed Thursday.
Statistics Canada said wholesale sales rose 0.2 percent in June to C$47.8 billion, slowing from an upwardly revised 2.0 percent advance in May.
A weaker Canadian dollar relative to its U.S. counterpart generated higher prices for the imported products sold by wholesalers. Stripping out the effect of price changes, wholesale sales in volume terms declined 0.5 percent in June.
In June, higher sales in the agricultural supplies and the metal service centers industries were partially offset by lower sales in several other industries, notably the machinery, equipment and supplies subsector.
The increase in wholesale sales was most pronounced in Alberta, where sales rose 3 percent. However, wholesale sales slipped 0.3 percent in Ontario and 1.9 percent in British Columbia.
Read more at Ironfx.com
Statistics Canada said wholesale sales rose 0.2 percent in June to C$47.8 billion, slowing from an upwardly revised 2.0 percent advance in May.
A weaker Canadian dollar relative to its U.S. counterpart generated higher prices for the imported products sold by wholesalers. Stripping out the effect of price changes, wholesale sales in volume terms declined 0.5 percent in June.
In June, higher sales in the agricultural supplies and the metal service centers industries were partially offset by lower sales in several other industries, notably the machinery, equipment and supplies subsector.
The increase in wholesale sales was most pronounced in Alberta, where sales rose 3 percent. However, wholesale sales slipped 0.3 percent in Ontario and 1.9 percent in British Columbia.
Read more at Ironfx.com
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