By Glenn Johnson
OTTAWA--Canadian wholesale transactions rose in June, led in part by higher sales in the motor vehicle and motor vehicle parts sector.
Statistics Canada said Monday that wholesale trade rose 0.1% on a seasonally adjusted basis in June, to $80.7 billion Canadian dollars, the equivalent of US$63.16 billion.
In volume, or price-adjusted terms, wholesale sales fell 0.1% in June. On a year-to-year basis, nominal wholesale sales increased 12.2%.
Wholesalers--the largest component of Canada's service sector--connect farmers or manufacturers that produce goods with companies and public institutions that use them. They also import goods from other countries and redistribute them within Canada.
In June, the growth was attributable to increases in the miscellaneous goods and motor vehicle and motor vehicle parts and accessories subsectors.
The value of wholesale inventories rose 3.4% to C$120 billion in June, mainly on higher inventories in the machinery, transportation equipment and chemical product industries.
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(END) Dow Jones Newswires