Canadian Manufacturing

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

December 19, 2019  The Canadian Press

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.

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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.

 


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