REFILE-UPDATE 1-Canada May wholesale sales jump on computers, autos

August 16, 2012 by  
Filed under Every thing you Need to Know

Thu Jul 19, 2012 6:03pm IST

* May leap is second consecutive unexpected advance

* Computers, autos, food sales fuel increase

OTTAWA, July 19 (Reuters) – Canadian wholesale sales postedtheir second consecutive unexpected jump in May, rising 0.9percent from April to C$49.77 billion ($49.28 billion) on highersales of computers, autos and food, Statistics Canada dataindicated on Thursday.

Analysts had predicted a 0.3 percent increase. Statscanrevised April’s month-on-month advance down to 1.2 percent froman initial 1.5 percent, still far more than the 0.2 percent risemarket operators had been expecting that month.

Sales of computer and communications equipment leaped by 7.3percent from April, the largest month-on-month growth sinceApril 2008. Food sales were up by 1.5 percent while auto salesincreased by 2.9 percent.

Four of the seven subsectors, accounting for about 70percent of wholesale sales, reported increases in May. In volumeterms, sales were up by 0.4 percent.

Inventories edged up by 0.1 percent while the ratio ofinventory to sales dropped to 1.20 from 1.21. Wholesale sales inMay were 6.2 percent higher than in May 2011.

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