8/22/2016, 4:31 PM (Source: TeleTrader)
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Canadian wholesales rise for third month

Wholesales in Canada increased 0.7% to CA$56.4 billion in June, and the growth was recorded for the third consecutive month. In volume terms, sales were 0.6% higher from May to June. During the second quarter, wholesales in current dollars grew 0.6%, and those in constant dollars advanced 1.1%, Statistics Canada reported on Monday.

The numbers were good mostly on higher sales of motor vehicles. Accordingly, imports of motor vehicles and parts, and manufacturing sales of motor vehicles were also higher in June.

Sales were 6.9% higher in the textile, clothing and footwear industry, and pharmaceuticals and pharmacy supplies industry gained 1.4% in the period. The machinery, equipment and supplies subsector sales rose 1.1% to CA$11.1 billion.

There was a 2.9% weaker demand for agricultural supplies, and farm products sales dropped 2%.

The Canadian dollar was 0.36% weaker against the U.S. counterpart, and the loonie 0.17% weakened versus both the Japanese yen and the euro at 4:21 p.m. CET.

In Toronto, the S&P/TSX Composite Index fell 0.25% to 16,632 points at 4:16 p.m. CET.

Baha Breaking News (BBN) / ZR