Canada wholesale sales dropped -0.6% mom in July to CAD 80.2B, worse than expectation of -0.4% mom. That followed two consecutive months of record-high sales in May and June.
Declines in the personal and household goods subsector led the losses for July, followed by the building material and supplies, and the motor vehicle and motor vehicle parts and accessories subsectors. Sales fell in five of seven subsectors, which represented 63% of wholesale sales.
