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- Canada’s wholesale sales rise more than expected in September
Canada’s wholesale sales rise more than expected in September
Statistics
Canada reported on Monday the wholesale sales rose 1.0 percent m-o-m to CAD65.09
million in September, following an unrevised 1.2 percent m-o-m decrease in August.
Economists had
forecast an advance of 0.4 percent m-o-m for September.
According to
the report, higher sales were recorded in five of seven subsectors, accounting
for 82 percent of total wholesale sales. The machinery, equipment and supplies
(+4.4 percent m-o-m), the personal and household goods (+1.0 percent m-o-m), and
the food, beverage and tobacco (+0.6 percent m-o-m) subsectors contributed the
most to the gain in September, while the motor vehicle and motor vehicle parts
and accessories subsector (-0.8 percent m-o-m) showed the largest drop. Excluding
motor vehicle and parts, wholesale sales grew 1.4 percent m-o-m in September.
In the third
quarter, sales rose 0.8 percent, recording the fourteenth consecutive quarterly
increase.
At the same
time, wholesale inventories decreased 0.7 percent m-o-m in September.
Inventories were down in five of seven subsectors, representing 53 percent of
total wholesale inventories. Inventories dropped 0.9 percent in the third
quarter, following 12 consecutive quarterly advances.
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