Canadian wholesale sales in current dollars fell 0.3% to $40.1billion in May, its lowest level since December 2005. In volume terms, wholesale sales were unchanged in May. Weaker sales in the machinery and equipment, food, and metal products trade groups were the major factors contributing to the decrease during the month. With May’s decline, wholesale sales have fallen for eight consecutive months.

In current dollars, four of the seven sectors, accounting for just over half of total wholesale sales, declined in May.

Sales in the machinery and electronic equipment sector fell0.2% in May. Almost half of this sector is accounted for by the machinery and equipment trade group, which declined 2.3%. Sales in this trade group have declined almost20% since their September2008peak.
The …