Loading...
The Financial Express
Swasti Lankabangla Swasti Lankabangla

Canada's wholesale sales hit record high in July

| Updated: September 23, 2020 13:19:10


File photo used for representational purpose File photo used for representational purpose

Canadian wholesale sales rose 4.3 per cent to a record high of 65 billion Canadian dollars (about 49 billion US dollars) in July, according to Statistics Canada on Friday.

July was the growth of wholesale sales for a third consecutive month due to higher sales in the motor vehicle and motor vehicle parts and accessories subsector, reports Xinhua.

Excluding the motor vehicle and motor vehicle parts and accessories subsector, wholesale sales were up 1.8 per cent.

Wholesale sale volumes increased 4.2 per cent in July.

The wholesale sector has demonstrated considerable resiliency as the Canadian economy started to reopen amid the coronavirus (COVID-19) pandemic.

July's sales were 0.6 per cent higher than the pre-COVID-19 level in February 2020.

sepnil-desktop-ad-the-financial-express sepnil-mobile-ad-the-financial-express

Share if you like