Statistics Canada says wholesale sales fell 1.1% in October
Sales dropped in four of the seven sectors tracked by Statistics Canada, accounting for two-thirds of total wholesale sales
OTTAWA – Statistics Canada says wholesale sales fell 1.1% to $64.2 billion in October, weighed down by a drop in the machinery, equipment and supplies subsector.
Economists on average had expected a drop of 0.1%, according to financial markets data firm Refinitiv.
Sales dropped in four of the seven sectors tracked by Statistics Canada, accounting for two-thirds of total wholesale sales.
The machinery, equipment and supplies subsector fell 3.0% to $13.4 billion, while the miscellaneous subsector dropped 3.4% to $8.1 billion due to lower sales in the agricultural supplies industry.
Sales increased in the farm product subsector rose 3.1%, while the personal and household goods subsector climbed 0.2%.
Overall wholesale sales fell 1.1% in volume terms.
