Canada Wholesale Sales Fall From Record in Widespread Drop

Canadian wholesale sales fell in June from a record the previous month with declines in every major category, led by farming and building supplies, adding to signs of a mid-year slowdown in the world’s 11th largest economy.

Wholesale sales dropped 2.8 percent to C$48.8 billion ($47.1 billion), the fastest since January 2009, Statistics Canada said today in Ottawa. The decline exceeded the most pessimistic of 13 estimates in a Bloomberg survey that had a median estimate for a 0.5 percent fall.