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August 22, 2017

Canadian wholesale sales declined 0.5% in June

Statistics Canada announced that wholesale sales declined 0.5% to $61.4 billion in June following eight consecutive monthly increases. Declines were recorded in five of seven subsectors, led by the food, beverage and tobacco subsector and the motor vehicle and parts subsector.

According to the Federal Agency the food, beverage and tobacco subsector reported the largest decline in June, as sales decreased 1.0% to $11.9 billion. This was mainly due to lower sales in the food industry, which decreased 1.1% and offset most of the 1.2% gain observed in May.

Sales in the motor vehicle and parts subsector dropped 1.0% to $11.4 billion on weaker sales in the motor vehicle industry (-1.7%), and wholesalers in the machinery, equipment and supplies subsector posted a 0.6% decrease in June, with sales at $12.2 billion.

The farm product subsector (-5.7% to $748 million) also recorded a decline in June. Sales in the building material and supplies subsector remained almost unchanged at $8.5 billion.