Canada's wholesale sales increase 2.4% in April

By Ovunc Kutlu

ISTANBUL (AA) - Wholesale sales in Canada increased 2.4% in April, compared to the previous month, to reach $83.3 billion, according to the statistics office on Friday.

The market expectation for wholesale sales, a leading indicator of consumer spending, was to show a gain of 2.6%.

The figure for March was revised to a decline of 1.3% from a decrease of 1.1%.

"Sales increased in five of the seven subsectors, led by the motor vehicle and motor vehicle parts and accessories subsector and the miscellaneous subsector," Statistics Canada said in a statement.

"Following a decline in March, sales in the motor vehicle and motor vehicle parts and accessories subsector increased by 10.2% to $14.6 billion in April, the highest reported sales since November 2023," it added.

The province of Ontario led the way in sales growth, with a gain of 2.1% to reach $43 billion in April, after three consecutive months of declines, according to the agency.

On an annual basis, wholesale sales, excluding petroleum, petroleum products, other hydrocarbons, oilseed, and grain, were 3.4% higher in April, compared to the same month of last year.