Jul. 18, 2022
May Wholesale Sales Increase
Wholesale sales rose 1.6 per cent in May to $81.1 billion, the eighth increase in the past 10 months, says Statistics Canada. Sales increased in five of the seven wholesale trade subsectors representing 70 per cent of wholesale sales. The machinery, equipment, and supplies subsector posted the second highest gains for May as sales rose 3.2 per cent to $17 billion. Sales of building material and supplies fell for a second consecutive month, however, down 4.3 per cent to $13.2 billion in May. An 8.2 per cent drop in sales of the lumber, millwork, hardware, and other building supplies industry accounted for nearly all the decrease in the subsector.