Jan 20, 2023
Wholesale Sales Slow In Building Materials Industry
Wholesale sales rose 0.5 per cent to $83.8 billion in November, says Statistics Canada. Higher sales were posted in the motor vehicle and motor vehicle parts and accessories subsector and the machinery, equipment, and supplies subsector, while sales in remaining subsectors decreased. Sales in the building material and supplies sector increased 0.4 per cent year over year, with the highest increase in the electrical, plumbing, heating, and air-conditioning equipment and supplies industry at 9.5 per cent. The lumber, millwork, hardware, and other building supplies industry sales decreased 0.3 per cent year over year. Sales increased in five provinces in November, representing 83.2 per cent of national sales. The increase was predominantly seen in Ontario and Quebec, while declines in Saskatchewan partially offset these gains. Inventories fell 0.5 per cent to $126 billion in November, the first drop since January 2022. Inventories in the building material and supplies subsector fell 3.3 per cent to $23.8 billion in November. This decrease was seen in all three industries.