October 8

Statistics Canada says wholesale sales hit 616B in May record high

OTTAWA — Statistics Canada says wholesale sales hit a record high in May as they climbed 0.9 per cent to $61.6 billion.Economists had expected an increase of 0.5 per cent, according to Thomson Reuters.Statistics Canada says sales were up in six of the seven subsectors, representing 80 per cent of total wholesale sales.The miscellaneous subsector had the largest gain in dollar terms as it increased 2.6 per cent to $8 billion in May.Motor vehicle and parts sales rose 1.4 per cent to $11.6 billion.Wholesale sales increased 0.8 per cent from April to May in volume terms. read more