Canada's wholesales plummet 2.8% in June

ISTANBUL

Wholesale sales in Canada plummeted 2.8% in June to $80.5 billion, according to Statistics Canada figures released Wednesday.

The expectation for the figure was to show a 4.2% decrease.

Wholesale sales, a leading indicator of consumer spending, increased 2.9% in May, which was the largest gain since June 2020

"Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) were down 0.4% compared with June 2022," the agency said in a statement.