Canada's wholesale sales fall 1.4% in April

By Ovunc Kutlu

ISTANBUL (AA) - Wholesale sales in Canada fell 1.4% in April to $80.9 billion, coming against the market estimates of an increase, according to Statistics Canada figures released Friday.

The market expectation for the figure was to show a 1.6% increase.

Wholesale sales, a leading indicator of consumer spending, declined 1.1% in March.

Sales fell in four of the seven subsectors, mainly led by food, beverage and tobacco product subsectors, according to the statistical body.

"Overall, six of seven industry groups reported a monthly decline in April, but it was the lower sales of the agricultural supplies industry group that influenced the majority of the subsector movement," it said in a statement.