BUSINESS

Statistics Canada says wholesale sales fall 1.0 per cent in May to $54.5B

07/20/2015 08:43 EDT | Updated 07/20/2016 05:59 EDT
OTTAWA - Statistics Canada says wholesale sales fell 1.0 per cent to $54.5 billion in May, following two consecutive increases.

Economists had expected wholesale sales to hold steady, according to Thomson Reuters.

The drop in sales came as four subsectors, which together represented 65 per cent of wholesale sales, moved lower.

Excluding the motor vehicle and parts subsector, wholesale sales fell 0.6 per cent.

Wholesale sales were down 1.0 per cent in volume terms.

Sales were down in six provinces with Ontario and Alberta contributing the most to the decline.