Canada's wholesale sales decrease 0.8% in May

By Ovunc Kutlu

ISTANBUL (AA) - Wholesale sales in Canada decreased 0.8% in May, compared to the previous month, to reach $82.2 billion, according to the statistics office on Monday.

The market expectation for wholesale sales, a leading indicator of consumer spending, was to show a gain of 2%.

The figure for April was unrevised at an increase of 2.4%.

"Sales declined in five of the seven subsectors, with the largest decline coming from the motor vehicle and motor vehicle parts and accessories subsector," Statistics Canada said in a statement.

"Following a large increase in April, sales in the motor vehicle and motor vehicle parts and accessories subsector decreased by 3.8% to $13.9 billion in May," it added.

The province of Manitoba led the way in sales decline, with a dive of 13.5% to $1.7 billion in May, recording its fourth decline since the beginning of this year, according to the agency.

On an annual basis, wholesale sales were 0.9% lower in May, compared to the same month of last year.