23.10.201721:54:00UTC+00Canada Wholesale Trade Increased in August

The value of Canadian wholesale trade increased by 0.5 percent in August from the previous month due to strength in personal and consumer goods, along with motor vehicles and parts, according to Statistics Canada.

Wholesale transactions grew 0.5 percent on a seasonally adjusted basis in August to 57.06 billion Canadian dollars ($45.28 billion), Statistics Canada said.

Statscan also revised July's rise up to 1.7 percent from the previous report of 1.5 percent.

Sales increased in four of the seven subsectors, which represents 47 percent of overall wholesale trade. Volumes climbed 0.4 percent.

Sales of personal and household goods bounced 3.3 percent due to strong demand for textiles, clothing and footwear. The motor vehicles and parts subsector reported a 2.0 percent rise, which is the third gain in four months.

The building materials and supplies subsector pulled back for the first time in months, dropping 3.5 percent from July. Wholesale trade in food, drink and tobacco was down 0.6 percent.

Wholesale trade is the biggest component of Canada's services sector, which accounts for two-thirds of the nation's economic output. Wholesalers likely move merchandise in big quantities to institutional, industrial and retail clients.