Canada’s wholesale sales dip slightly in June, first decline in several months

OTTAWA – Canada’s wholesale sales declined slightly in June, with the food and auto industries showing the biggest impact.

Wholesale sales fell by 0.5 per cent to $61.4 billion, following a series of monthly increases.

The food industry’s wholesale sales were down 1.1 per cent from May, falling to $10.78 billion.

Motor vehicle wholesale sales were down 1.7 per cent at $9.13 billion in June.

Statistics Canada says the value of wholesale sales fell in five of the seven subsectors it follows and in six provinces, with the biggest decline in Alberta and the biggest gain in Ontario.

CIBC economist Andrew Grantham writes in a note to clients that June’s decline from May was modest and still up by 8.8 per cent compared with June of last year.