Importance Score: 45 / 100 🔵
Canadian Wholesale Trade Experiences Modest Growth in February
Ottawa – Canada’s wholesale sector demonstrated a marginal expansion in February, with trade volume increasing by 0.3% compared to January, according to figures released by Statistics Canada on Monday. This uptick in Canadian wholesale trade was largely propelled by robust sales in the machinery, equipment, and supplies subsector, highlighting key areas of economic activity.
Key Factors Influencing Wholesale Trade
The government agency reported that sales growth was evident in two out of the seven subsectors analyzed, representing 40.3% of total wholesale activity. Geographically, nine out of ten provinces registered sales increases during the period. In terms of volume, wholesale sales saw a rise of 0.2%.
Detailed Wholesale Trade Statistics (Percent Changes)
The following table presents a detailed breakdown of wholesale trade data, indicating percentage changes across different categories and timeframes:
Feb Feb Jan (rev) Jan (prev)
mo/mo yr/yr mo/mo mo/mo
Wholesale trade +0.3 +3.3 +1.4 +1.2
Wholesale trade ex-autos +1.0 +4.6 +0.9 +0.7
Wholesale inventories +2.2 +4.5 0.0 -0.1
Sectors:
Farm products -4.8 +14.0
Food/beverages/tobacco +0.5 +6.1
Personal/household -1.1 +4.1
Motor Vehicles and Parts -3.1 -2.9
Building materials/supplies -1.1 +2.6
Machinery/equipment +7.1 +7.4
Misc. -2.4 -0.4
NOTE: Data in the table exclude petroleum and oilseeds sales. All figures are seasonally adjusted.
Wholesale Inventories Show Increase
Statistics Canada also indicated a rise in wholesale inventories, which climbed by 2.2% in February, and increased 4.5% year-over-year.
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Analyst Expectations vs. Actual Growth
Financial analysts surveyed by Reuters had projected a slightly higher increase of 0.4% for wholesale trade in February compared to the previous month. The actual figure of 0.3% represents a minor deviation from these forecasts.