Statistics Canada Reports Wholesale Sales Down 1.1% in March

In March, Statistics Canada reports a decrease of 1.1% in Wholesale Sales

May 14, 2024 TruthUSA

According to Statistics Canada, wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and oilseed and grain, declined by 1.1 percent to $81.4 billion in March.

The agency reported that the overall decrease was due to lower sales in three out of the seven subsectors it monitors.

The motor vehicle and motor vehicle parts and accessories subsector experienced the largest drop, with sales declining by 5.8 percent to $13.4 billion in March. Within this subsector, the motor vehicle industry group fell by 7.0 percent to $10.6 billion as several auto plants underwent retooling work, while the new and used motor vehicle parts industry group decreased by 1.2 percent to $2.7 billion.

Additionally, the miscellaneous subsector saw a 5.0 percent decrease to $10.2 billion in March, while the machinery, equipment, and supplies subsector rose by 1.6 percent to $17.9 billion.

In terms of volume, wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and oilseed and grain, dropped by 1.2 percent in March.

Statistics Canada began including oilseed and grain, as well as the petroleum and petroleum products subsector, in wholesale trade last year, but this data is not part of the monthly analysis until sufficient historical data is available.