In January, Canadian wholesale trade saw a continued decline, with building materials and supplies leading the downturn. According to Statistics Canada's advance estimate, wholesale sales fell by 0.6% for the month.
Key Findings:
- Building Materials and Supplies: Sales were down by 3.9% compared to the previous month.
- Farm Products: Sales declined by 6.2%.
- Food, Beverage, and Tobacco Products: Sales also saw a decrease.
- Other Affected Sectors: Motor vehicles and parts, as well as personal and household goods, experienced lower sales.
- Machinery, Equipment, and Supplies: Sales in this sector were up by 3.1%.
In December, wholesale sales had already dropped by 0.3%, reaching 82.66 billion Canadian dollars. The decline was driven by the personal and household goods segment, along with food, beverage, and tobacco sales.
Transition to New Measure
Statistics Canada is in the process of transitioning to a new measure that includes petroleum, oilseed, and grain sales. This broader measure of wholesale trade saw a 4.1% decrease in December, amounting to C$117.62 billion.
The advance estimate for January was based on data from almost 56% of respondents to Statistics Canada's survey. Official wholesale trade data for January is expected to be released on March 15th.
Stay tuned for more updates on Canadian wholesale trade trends.
More Articles
All Rights Reserved © 2024
Post a comment