Wholesalers see flat June, weak quarter - Canada

[dArKeR]

Canadian wholesalers saw trade remain essentially flat in June, but sales during the quarter were down 1.9 per cent — the biggest decline since the 1998 ice storm sideswiped this country's economy, Statistics Canada said Wednesday.

In June, wholesale sales totalled $35.8-million, roughly the same as the month before.

However a 1-per-cent drop in April led to a contraction of 1.9 per cent in wholesale trade in the second quarter of the year. That's the biggest quarterly drop since the 2.9 per cent reported in the first quarter of 1998, when a devastating ice storm struck eastern Canada.

In total, only four of 11 industry groups reported gains in June.

http://theglobeandmail.com/servlet/story/RTGAM.20030820.wbwholeaug20/BNStory/Business/

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