REPORT: Wholesale Sales Fall

Motor vehicle and parts subsector falls 1.4%.

Wholesale sales fell 0.1% in August.

Economists had predicted a flat rate.

According to BNN Bloomberg, “the building material and supplies subsector fell 2.3 per cent to $9.5 billion in August, while the motor vehicle and parts subsector fell 1.4 per cent to $10.8 billion.”

Sales went up 2.2% in the “machinery, equipment, and supplies subsector.”

The wholesale sales decline is the latest evidence that Canada’s economy is weakening.

Spencer Fernando