Oct. 19, 2022
Wholesale Sales Decline
Following a decline in July sales, August wholesale sales increased 1.4 per cent and reached a new high of $81.3 billion, says Statistics Canada. Growth was reported in five of the seven subsectors, representing 86 per cent of wholesale sales. The miscellaneous goods subsector led the growth for wholesale sales in August. Sales in the miscellaneous merchant wholesalers subsector rose 3.9 per cent to $12.8 billion in August, its fourth straight increase. Although three of the five industries in the subsector posted lower sales, the agricultural supplies industry's growth of 13.2 per cent to $5.2 billion offset the declines in other industries. Sales increased in six provinces and one territory in August, with the largest gains seen in Ontario, Alberta, and Quebec. Combined, the sales of these three provinces represented 98 per cent of the national level growth. Inventories rose 1.5 per cent to $123.2 billion, the seventh consecutive monthly increase. Specifically, six of the seven subsectors reported increased inventories, led by the machinery, equipment and supplies subsector, and the building material and supplies subsector. In the building material and supplies subsector, inventory levels increased 2.1 per cent to $24.1 billion. The increase was mainly due to electrical, plumbing, heating and air-conditioning equipment and supplies, up 3.7 per cent to $7 billion.