Factories, Wholesalers in Canada Gain More Than Expected (1)

Two of Canada’s most exposed sectors to the US trade war posted stronger-than-expected gains at the start of the third quarter.

Manufacturing sales jumped 2.5% in July, while wholesale receipts rose 1.2%, Statistics Canada data showed Monday. The increases exceeded the median projections of 1.8% and 1.3%, respectively, in a Bloomberg survey of economists.

In volume terms, sales for manufacturers were up 1.6% and 0.8% for wholesalers. Total manufacturing inventories increased 0.8%, while wholesale inventories were up 0.6%.

Higher sales of motor vehicles, aerospace products and refined petroleum drove July’s manufacturing gain, though seasonal adjustment influenced the figures for ...