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Industry NewsWholesale sales see 2nd consecutive increase: StatsCan

Wholesale sales see 2nd consecutive increase: StatsCan

statscan_wholesale_sales_rose-5838345Source: Statistics Canada

Statistics Canada reports that wholesale sales rose 0.7% to $63.6 billion in November, a second consecutive increase. Sales were up in six of seven subsectors, representing 99% of wholesale sales. The food, beverage and tobacco subsector and the motor vehicle and parts subsector led the gains.

The food, beverage and tobacco category posted the largest increase in dollar terms in November, rising 1.9% to $12.2 billion. Higher sales in the food industry, up 2.2% to $11.1 billion, contributed the most to the gain. This was the highest level on record for both the subsector and the industry.

Ontario posted the biggest increases, and the food sector was the second-largest contributor in the province, contributing a rise of 3.7%, its first increase in four months.

“After 11 months of 2017, total wholesale is up 9.8% versus a year ago,” says retail consultant Ed Strapagiel. “This is certainly a high for recent years, and compares to annual gains of 2.7% in 2016, 4.1% in 2015, 6.1% in 2014, and 1.6% in 2013. It also appears that there’s positive momentum going forward. For the three months ending November 2017, wholesale is up 10.7% over the same period a year ago, which is almost a full point ahead of the 9.8% year-to-date gain noted previously.”

You can find the StatsCan report here. 

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