Sales of wholesale goods rose by a less-than-expected 0.2 per cent in June, as a weaker automotive sector held back growth, Statistics Canada said Friday.
If the auto sector had been excluded, sales would have risen by 0.6 per cent.
Statistics Canada said wholesale sales of motor vehicles fell 1.9 per cent in June. Sales of auto parts fell by a smaller 0.5 per cent.
"These declines were attributable in part to decreased demand in North America," StatsCan said in a statement. "Exports of both trucks and cars declined for a third consecutive month."
The figures mean that wholesale sales fell by 0.6 per cent in the three-month period ending June 30 — the first quarterly decline in this area in four years.
"While most indicators for June were weaker than in May, the tally for the second quarter still points to a decent quarter for overall growth," said a commentary from RBC Economics.
"In constant dollar terms, wholesale sales increased at a 2.9 per cent annualized rate from April through June, slower than the first-quarter's gain but still contributing to the quarterly growth rate."
Share Tools
Top News Headlines
- Montreal protesters march in peaceful defiance
- The clanging of pots and pans sounded throughout Montreal's downtown core Saturday night and into early Sunday morning, as thousands of protesters marched on in peaceful — but loud — defiance of Bill 78. more »
- Quebec tornadoes cause millions in damage
- Environment Canada confirms that two tornadoes — one of which was classed as a moderate F-1 packing winds of up to 150 km/h — touched down near Montreal Friday night, causing millions of dollars in damage. more »
- Teen struck by lightning in Ottawa dies
- The victim of a Friday lightning strike during a storm in east Ottawa has died, CBC News has learned. more »
- Missing Winnipeg children found in Mexico
- Two Winnipeg children reported missing and possibly in Mexico have been found alive, according to unofficial reports from an agency that works to find missing people. more »
Latest Business Headlines
- Bankia asks Spain for €19B
- The board of directors of Spain's troubled bank, Bankia, has asked the Spanish government for €19 billion ($24.5 billion Cdn) in financial support. more »
- EI reforms aim to boost employment, Flaherty says
- Finance Minister Jim Flaherty defended his government's proposals to change employment insurance, saying the aim is to remove "disincentives to employment." more »
- Employment Insurance review boards to be scrapped
- The federal government is scrapping two review boards used by people appealing decisions made about their employment insurance. more »
- Ottawa moves to limit foreign investment reviews
- The federal government is raising to $1 billion the amount of foreign money that can go into a Canadian company before the investment is reviewed. The review has been used in the past to block foreign takeovers of MDA and Potash Corp. more »
Lang & O'Leary Exchange
Markets
| Index | Last Trade | Change |
|---|---|---|
| TSX COMPOSITE | 11576.47 | 10.4 |
| DOW | 12454.83 | -74.92 |
| NASDAQ | 2837.53 | -1.85 |
| SP 500 | 1317.82 | -2.86 |
| NYSE COMPOSITE | 7534.32 | -18.01 |
| AMEX | 2227.37 | 1.45 |
| TSX-VENTURE | 1309.27 | 26.8 |
The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.
Business Features
- Teen struck by lightning in Ottawa dies
- Missing Winnipeg children found in Mexico
- Quebec tornadoes cause millions in damage
- Woman's remains found in hockey bag on Cape Breton river
- Montreal protesters march in peaceful defiance
- Pope's butler arrested in Vatican leaks scandal
- Everest team unable to bring down Toronto woman's body
- WWE apologizes to Brazil over Canadian's flag stomp
- What a Greek euro exit could mean for Canada
