September 24, 2018 July Wholesale Trade report

Statistics Canada reports that “Wholesale sales rose 1.5% to $63.9 billion in July, more than offsetting the 0.9% decline in June.”

My first thought looking at that is that there is some measurement error involved. The error could come from the seasonal adjustment process. The true trend is probably a bit smoother than suggested by a 0.9% drop in June followed by a 1.5% increase in July.

In any case though, it is a positive report.

On a year-over-year basis the growth in wholesale trade is up 4.1% which is strong growth.