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- Canada’s wholesale sales rise 0.3 percent in August
Canada’s wholesale sales rise 0.3 percent in August
Statistics
Canada reported on Monday the wholesale sales rose 0.3 percent m-o-m to CAD65.69
million in August, following a revised 5.2 percent m-o-m jump in July (originally
a 4.3 percent m-o-m increase).
Economists had
forecast a 0.2 percent m-o-m gain for August.
According to
the report, sales increased in four of seven subsectors, led by higher sales in
the building material and supplies (+7.0 percent m-o-m) and the motor vehicle
and motor vehicle parts and accessories (+2.5 percent m-o-m) subsectors. Excluding
motor vehicle and motor vehicle parts and accessories subsector, wholesale
sales edged down 0.1 percent m-o-m.
In y-o-y terms,
wholesale sales increased 3.4 percent in August.
Meanwhile, wholesale inventories were unchanged m-o-m
in August. Inventories grew in four of seven subsectors, with the machinery,
equipment and supplies subsector (+0.9 percent m-o-m) recording the largest gain.
However, this increases were offset by lower inventories in the other three
subsectors, led by drop in the building material and supplies subsector (-2.4
percent m-o-m). The inventory-to-sales ratio remained unchanged at 1.37 from
July to August. This was the lowest level since August 2018.
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