Canadian wholesale trade has seen a consistent rise, marking its third consecutive monthly increase with a 0.4% climb to C$83.07 billion ($60.67 billion) in September, surpassing Statistics Canada’s initial estimates. This rise follows a downwardly revised 1.8% increase in August, with wholesale sales volume also experiencing a 0.5% boost.
On an annual basis, nominal wholesale sales have grown by 1.6%, and the third quarter (Q3) of the year reflected a 1% increase, largely driven by sales in motor vehicles and parts.
A closer look at the sectoral performance reveals that four out of seven sectors reported sales growth. Notably:
- Motor vehicles, parts, and accessories sector continued its upward trend for the third month, rising by 2.2%.
- The food, beverage, and tobacco sector followed suit with a 1.6% increase.
- However, the miscellaneous subsector saw a decline of 2.1%.
In terms of inventory value, wholesalers observed a contraction of 1.6%, bringing the total to C$126.23 billion. This decrease was attributed to reductions in machinery, equipment and supplies, as well as building materials and supplies sectors.
When incorporating petroleum, oilseed, and grain merchants’ sales into the equation, the total wholesale sales for September were actually higher by 0.7% at C$131.42 billion.
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