Canada: Wholesale sales rose 1.5% to $62.4 billion in July

"Wholesale sales rose 1.5% to $62.4 billion in July, following a 0.6% decline in June," the Statistics Canada announced on Thursday.

Key quotes:

• Sales were up in five of the seven subsectors, representing 86% of total wholesale sales.
• The building material and supplies and the food, beverage and tobacco subsectors contributed the most to the advance.
• In volume terms, wholesale sales were up 2.1%.
• Wholesale inventories increased for the fourth consecutive month, up 0.7% to a record $80.8 billion in July.
• Inventories were up in five of seven subsectors, representing 83% of total wholesale inventories.