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- Canadian wholesale sales increased offsetting most of September's 1.5% decrease
Canadian wholesale sales increased offsetting most of September's 1.5% decrease
Wholesale sales increased 1.1% to $56.6 billion in October, offsetting most of September's 1.5% decrease. Gains were recorded in five subsectors, led by higher sales in the building material and supplies, motor vehicle and parts, and food, beverage and tobacco subsectors.
In volume terms, wholesale sales increased 0.9%.
Sales rose in five of seven subsectors, representing approximately 87% of total wholesale sales.
The building material and supplies subsector recorded the largest increase in dollar terms, up 2.8% to $7.6 billion on the strength of sales in the lumber, millwork, hardware and other building supplies industry, which recorded the lone increase (+5.6%) and reached a record high. Exports of forestry products and building and packaging materials increased in October.
Sales in the motor vehicle and parts subsector rose 1.8% to $11.3 billion in October. While sales increased in two of three industries in the subsector, sales in the motor vehicle industry (+1.2%) rose to a record high and accounted for more than half of the advance in the subsector. Imports and exports of motor vehicles and parts increased in October.
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