Statistics Canada reported on Friday that wholesale sales (excluding
petroleum and oilseed and grain) fell 0.5 per cent m-o-m to CAD81.71 billion in
October, following a downwardly revised 0.6 per cent m-o-m drop (from +0.4 per
cent m-o-m) in September.
Economists had predicted a 0.5 per cent m-o-m increase for October.
According to the report, sales dropped in four of the seven subsectors, led by the machinery, equipment and supplies (-1.6 per cent
m-o-m), food, beverage and tobacco (-1.1 per cent m-o-m), and motor vehicle and
motor vehicle parts and accessories (-1.0 per cent m-o-m) subsectors.
Meanwhile, the building material and supplies (+1.1 per cent m-o-m) and personal
and household goods (+0.7 per cent m-o-m) subsector showed gains in wholesale
sales, and the miscellaneous subsector showed no change.
In y-o-y terms, wholesale sales (excluding petroleum, petroleum
products, and other hydrocarbons and excluding oilseed and grain) declined 2.1
per cent in October.