Canada’s wholesale sales rose 0.3% month-on-month in July, revised up after a downward initial estimate

⑴ Canada’s wholesale sales (excluding petroleum and hydrocarbon products) in July grew 0.3% month-on-month to CAD 93.1 billion. The initial value was a decrease of 0.6%. The data was revised upwards, continuing June’s 2.8% increase, indicating that the manufacturing sector shows some resilience against rising energy costs. ⑵ Sales of building materials and supplies rose by 3.5% to CAD 13.8 billion; food, beverage, and tobacco sales grew by 1.7% to CAD 16.67 billion. ⑶ Agricultural product sales fell by 1.9% to CAD 1.8 billion, while personal and household goods sales declined by 1.5% to CAD 12.8 billion. ⑷ Wholesalers raised prices to support revenue, with volumes down 0.6% month-on-month.