Wholesale sales posted fourth consecutive monthly gain in July: StatsCan
Wholesale sales rose 0.3% to $56.5 billion in July, a fourth consecutive monthly gain, a new report from Statistics Canada said. Increases were recorded in five of seven subsectors, led by the motor vehicle and parts subsector and the food, beverage, and tobacco subsector.
In volume terms, wholesale sales were unchanged in July.
“Sales rose in five of seven subsectors, representing 72% of total wholesale sales,” the report said. “The motor vehicle and parts subsector recorded the largest increase in dollar terms in July, up 2.0% to $11.1 billion. This was the subsector’s fourth consecutive monthly gain. Sales in the motor vehicle industry (+3.0%) rose to a record high, and accounted for most of the advance in the subsector. Excluding this subsector, wholesale sales were down 0.1% in July.”
In the machinery, equipment, and supplies subsector, sales rose 0.6% to $11.2 billion in July, the highest level since January 2016. “Three of the four industries in the subsector contributed to the increase, led by the construction, forestry, mining, and industrial machinery, equipment and supplies industry (+2.6%),” the report said.
In July, sales increased in six provinces, led by Ontario and Quebec. “Sales in Ontario rose 0.6% to $29.1 billion in July, their highest level on record,” StatsCan said. “Gains were led by the motor vehicle and parts subsector and the machinery, equipment and supplies subsector.
Quebec recorded the second largest increase in dollar terms, with sales up 1.1% to $10.5 billion. Higher sales were recorded in the food, beverage and tobacco subsector.”
The machinery, equipment, and supplies subsector and the motor vehicle and parts subsector led the gain in Nova Scotia, where sales rose 1.3% to $761 million, StatsCan continued. “In Alberta, sales declined for the third time in four months, down 2.5% to $6.1 billion. The decrease was led by lower sales in the machinery, equipment and supplies subsector.”