By Robb M. Stewart
OTTAWA–Canadian wholesale trade increased for a third consecutive month in September, driven by increased sales of motor vehicles and parts.
Wholesale sales rose 0.4% on a seasonally adjusted basis from the month before to 83.07 billion Canadian dollars, the equivalent of $60.67 billion, Statistics Canada said Wednesday. The figure topped the data agency’s advance estimate for no change for the month, following a downwardly revised 1.8% rise in wholesale transactions recorded for August.
In volume, or price-adjusted terms, wholesale sales were 0.5% higher in September, the data agency said.
On a one-year basis, nominal wholesale sales increased 1.6%.
On a quarterly basis, wholesale sales increased 1.0% for the third quarter, largely thanks to the motor vehicle and motor vehicle parts and accessories segment.
Wholesalers–the largest component of Canada’s services sector–connect farmers or manufacturers that produce goods with companies and public institutions that use them. They also import goods from other countries and redistribute them within Canada.
Sales were up in four of the seven wholesale sectors tracked by Statistics Canada in September.
Sales of motor vehicles, parts and accessories increased for a third month running, rising 2.2%, while food, beverage and tobacco sales increased 1.6% on-month. Sales in the miscellaneous subsector were down 2.1%.
The value of wholesale inventories dropped 1.6% for the month to C$126.23 billion, led by the machinery, equipment and supplies and followed by building materials and supplies.
Including sales by petroleum, oilseed and grain merchants–the headline measure Statistics Canada is transitioning to–wholesale sales for September were 0.7% higher at C$131.42 billion.
Statistics Canada is scheduled to release retail sales data for September on Nov. 24.
Write to Robb M. Stewart at [email protected]
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