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Wholesale Trade Slumps In June Flash

CANADA DATA
  • Wholesale trades saw a particularly heavy -4.4% M/M decline in June according to the Statcan flash, taking the gloss off last week’s beat when May final sales increased +3.5% vs consensus +1.0 after -1.4% in April.
  • These figures are all for the measure that excludes petroleum, petroleum products, other hydrocarbons and oilseed & grains.
  • The press release notes: “The decrease reflects lower sales in the machinery, equipment and supplies subsector and the motor vehicle and motor vehicle parts and accessories subsector.” It has a 54% response rate.

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