Canada's wholesale sales rise 0.4% in July

By Ovunc Kutlu

ISTANBUL (AA) - Wholesale sales in Canada rose 0.4% in July, compared to the previous month, to reach $82.7 billion, according to the statistics office on Friday.

Wholesale sales, a leading indicator of consumer spending, were to show a decline of 1.1%, according to market expectations.

The figure for June was kept unrevised at a decrease of 0.6%.

"Sales increased in four of the seven subsectors, led by the agriculture supplies industry group within the miscellaneous subsector and the food, beverage and tobacco subsector," Statistics Canada said in a statement.

"The food, beverage and tobacco subsector also contributed to higher sales, up 1.7% to $15.0 billion in July following two consecutive monthly declines," it added.

Sales increased in all four industry groups, and they were led by the food industry group with a gain of 1.3% to reach $13.3 billion, said the agency.

The province of Quebec and Alberta led the way in sales growth, with an increase of 2% each, according to the agency.

Wholesale sales were 1.1% higher in July, compared to the same month last year.