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OTTAWA, Aug 20 (Reuters) - The value of Canadian wholesale
trade rebounded in June after a drop in May, rising 1.3 percent
on broad strength across most of the economy, Statistics Canada
said on Thursday.
The increase exceeded the 1.0 percent advance forecast by
market analysts. Statscan revised May's month-on-month fall to
0.9 percent from an initial decline of 1.0 percent.
Higher sales were recorded in five subsectors in June,
representing 86 percent of wholesale sales. The biggest driver
was the motor vehicle and parts category, which climbed 3.0
percent from May.
After two consecutive declines, sales in the personal and
household goods sector rose by 2.2 percent to hit a new record.
The miscellaneous sector, which includes agricultural
supplies and chemical products, fell for the fifth time in six
months, dropping 1.7 percent. Dry weather in crop-growing
western provinces contributed to the decline.
Inventories edged up 1.1 percent to hit a record high, with
gains registered in six of seven subsectors.