Statistics
Canada reported on Friday that wholesale sales (excluding petroleum and oilseed
and grain) rose 0.8 per cent m-o-m to CAD82.32 billion in September, following
a downwardly revised 0.9
per cent m-o-m fall (from -0.6 per cent m-o-m) in August. This marked the
strongest monthly gain in wholesale sales since April (+2.4 per cent m-o-m).
Economists had forecast
a 0.9 per cent m-o-m increase for September.
According to
the report, sales rose in five of the seven subsectors, accounting for 67.2 per cent of total wholesale sales. Miscellaneous goods (+4.5 per cent m-o-m), and motor vehicle and
motor vehicle parts and accessories (+2.0 per cent m-o-m) subsectors recorded
the largest advances in sales in September. Meanwhile, the food, beverage and
tobacco (-0.7 per cent m-o-m), and personal and household goods (-0.7 per cent
m-o-m) subsectors registered declines.
In y-o-y terms,
wholesale sales (excluding petroleum, petroleum products, and other
hydrocarbons and excluding oilseed and grain) fell 0.4 per cent in September.
In the third quarter of 2024, Canada’s wholesale
sales (excluding petroleum, petroleum products, and other hydrocarbons and
excluding oilseed and grain) dropped by 0.9 per cent q-o-q, with motor vehicle
and motor vehicle parts and accessories (-3.4 per cent q-o-q) and machinery,
equipment and supplies (-1.5 per cent q-o-q) subsectors driving the decline.