2017.04.2415:19:00UTC+00Canada’s Wholesale Sales fall Sequentially in February

Wholesale sales in Canada dropped 0.2 percent month-on-month in February to CAD 58.9 billion after rising for four straight months, showed Statistics Canada. Decline in sales were registered in four subsectors, led by reduced sales in personal and household goods and the beverage, food and tobacco subsectors. In terms of volume, wholesale sales dropped 0.4 percent sequentially in February.
Out of seven subsectors, sales fell in four subsectors, accounting for 54 percent of the total wholesale sales. The household goods and personal subsector registered the biggest drop in dollar terms in the month, falling 1.7 percent to CAD 8.3 billion. Wholesale sales in the industry dropped in February, but were 8.7 percent higher on a year-on-year basis. The food, beverage and tobacco subsector recorded 1 percent drop to CAD 11 billion after coming in flat in the prior month. This drop was led by the food industry.
The machinery, equipment and supplies subsector was up 0.6 percent, countering the 0.6 percent drop recorded in January. Meanwhile sales in building material and supplies subsector rose 0.6 percent, the fifth straight rise, while sales in the miscellaneous subsector were up 0.6 percent for the third rise in four months.
Region wise, wholesale sales dropped in eight provinces in the month, accounting for 85 percent to total wholesale sales, noted Statistics Canada. In terms of dollar, Quebec and Ontario added most to the fall. Ontario recorded a decline in sales of 0.5 percent after a 6.3 percent rise in January, while Quebec recorded a 1.2 percent fall. Sales were also down in Nova Scotia, British Colombia, Manitoba, Newfoundland and Labrador and in Prince Edward Island. On the other hand, wholesale sales were up in Alberta (2.9 percent) and in Saskatchewan (3.1 percent).
Meanwhile, wholesale inventories rose 0.2 percent in February to CAD 74.1 billion. This was the sixth rise in seven months.