Canada wholesale trade 0.1% versus -0.4% estimate

Details from the report:

Personal and household goods sales rose 3.5% to $12.4B in May after three monthly declines, leading the overall wholesale sales increase
Gains were seen in all but one industry group within the subsector
Top contributors: textile, clothing & footwear (+14.4%) and home entertainment equipment & appliances (+15.5%)
Motor vehicle and parts subsector up 2.2%, led by a 2.9% rise in the motor vehicle industry group
Machinery, equipment, and supplies sales fell 3.3%, offsetting much of the overall wholesale gains
Key drags: farm, lawn & garden machinery (-17.1%) and construction/forestry/mining/industrial equipment (-3.9%)

Looking at inventories:

Wholesale inventories rose 0.8% to $130.3B in May (excluding petroleum, oilseed, and grain)
Inventories increased in 4 of 7 subsectors, led by:
- Building material and supplies: +2.1%
- Personal and household goods: +2.2%
Inventory-to-sales ratio increased to 1.55 in May (from 1.54 in April), indicating slightly more months of inventory on hand at current sales levels

This article was written by Greg Michalowski at www.forexlive.com.