Canadian Wholesale Sales Grow 5.7% in May

Wholesale sales in Canada increased over the month of May by 5.7% to $52.6 billion, data by Statistics Canada showed on Friday.

This comes after wholesales sales fell during April, due to the outbreak of the coronavirus disease (COVID-19), by 21.4%.

However, May’s reading missed market expectations which suggested an 8.5% rise.

In addition, wholesale sales volumes increased by 5.2% in May.