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Dec 20, 2022

Building Materials Lead Wholesale Sales

Wholesale sales rose 2.1 per cent to $83.4 billion in October compared to September, says Statistics Canada. The largest increases were in the miscellaneous goods, the building material and supplies, and the personal and household goods subsectors, accounting for 82.4 per cent of the monthly gain. Sales rose in six of seven subsectors. The building material and supplies subsector rose 3.3 per cent to $12.6 billion in October, on higher sales in the lumber, millwork, hardware, and other building supplies industry which were up six per cent to $6.4 billion – the first increase since March. Products of this industry are mainly equipment for non-residential building supplies and hardware. This movement aligns with the data from the building permits program, reporting an increase of non-residential permits in October. For a third consecutive month, sales of the personal and household goods subsector increased, up 2.8 per cent to $11.6 billion. Overall wholesale sales increased in every province. Sales in Quebec, British Columbia, and Ontario led the monthly increase and accounted for 78.1 per cent of national sales. Inventories rose 0.6 per cent to $125.8 billion in October, the ninth consecutive monthly increase.

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