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- Canada’s wholesale sales decrease 1.3 percent in December
Canada’s wholesale sales decrease 1.3 percent in December
Statistics
Canada reported on Friday the wholesale sales fell 1.3 percent m-o-m to CAD66.50 billion in December, following an unrevised 0.7
percent m-o-m advance in November. This marked the first decline in wholesale
sales since April.
Economists had
forecast a 1.5 percent m-o-m drop for December.
According to
the report, sales went down in the three largest wholesale subsectors in
December, with the greatest decline seen in the motor vehicle and motor vehicle
parts and accessories subsector (-4.3 percent m-o-m), followed by the
machinery, equipment and supplies subsector (-3.1 percent m-o-m), and the food,
beverage and tobacco subsector (-1.3 percent m-o-m). These declines, however,
were partially offset by an increase in sales in the miscellaneous subsector
(+2.9 percent m-o-m).
Excluding motor
vehicle and motor vehicle parts and accessories subsector, wholesale sales fell
0.7 percent m-o-m.
In y-o-y terms,
wholesale sales rose 4.8 percent in December.
In 2020, Canada’s
wholesale sales decreased 1.0 percent, registering its first drop since 2009.
Meanwhile,
wholesale inventories edged down 0.1 m-o-m in December to CAD89.96 billion,
recording their third monthly decline in a row. The inventory-to-sales ratio 2020 rose to 1.35 in December
from 1.34 in November, recording its first increase since September. In y-o-y
terms, wholesale inventories declined 1.7 percent in December. In 2020, the
average inventory-to-sales ratio was 1.46 compared with 1.44 in 2019.
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