Wholesale Trade: BMO Capital Markets

BMO Capital Markets: Statistics Canada reported Tuesday that wholesale trade plunged a massive 2.8 per cent in June to $48.8 billion, reversing the gains posted the previous two months. Wholesale trade also fell 2.9 per cent in volumes, according to CTV. "Maybe this partly explains why employment was so weak in July," said Doug Porter, chief economist with BMO Capital Markets, pointing to the surprising loss of 39,400 jobs last month and OTTAWA -- The Canadian economy seems to have fallen into a hole in June, but not for the reasons many had expected. On top of a 1.3 per cent pull-back in manufacturing volumes, June's economic data is shaping up to be one of the weakest months since the 2008-09 recession. (www.immigrantscanada.com). As reported in the news.