Robb M. Stewart
An initial estimate by Statistics Canada suggests that the Canadian wholesale trade experienced a decline in June. Sales of machinery, equipment, supplies, as well as motor vehicles and parts, were reported to have dropped.
According to the advance results, wholesale sales for the month, excluding petroleum, oilseed, and grain, are expected to have decreased by 4.4%. The statistics agency is currently in the process of collecting data for June and the early indicator was based on a response rate of almost 54%.
The preliminary data reveals a significant decline in the sale of farm products (9.5%), machinery and equipment (8.7%), and vehicles, parts, and accessories (5.8%). Additionally, lower sales were observed in personal and household goods, building materials and supplies, food, beverages and tobacco products, and miscellaneous goods.
In May, Statistics Canada reported that wholesale sales (excluding petroleum, oilseed, and grain) had increased by 3.5% on a seasonally adjusted basis to 83.57 billion Canadian dollars ($63.21 billion). Total wholesale sales, the measure towards which the data agency is transitioning, saw a marginal 0.4% increase to C$128.08 billion.
Official trade data for June is scheduled to be released on August 16th.