HomeBlogUncategorizedCanada wholesale trade 0.1% versus -0.4% estimate

Canada wholesale trade 0.1% versus -0.4% estimate

Prior -2.3% revised to -2.2%wholesale trade for May 0.1% versus -0.4% estimate

Details from the report:

Personal and household goods sales rose 3.5% to $12.4B in May after three monthly declines, leading the overall wholesale sales increase

Gains were seen in all but one industry group within the subsector

Top contributors: textile, clothing & footwear (+14.4%) and home entertainment equipment & appliances (+15.5%)

Motor vehicle and parts subsector up 2.2%, led by a 2.9% rise in the motor vehicle industry group

Machinery, equipment, and supplies sales fell 3.3%, offsetting much of the overall wholesale gains

Key drags: farm, lawn & garden machinery (-17.1%) and construction/forestry/mining/industrial equipment (-3.9%)

Looking at inventories:

Wholesale inventories rose 0.8% to $130.3B in May (excluding petroleum, oilseed, and grain)

Inventories increased in 4 of 7 subsectors, led by:

Building material and supplies: +2.1%

Personal and household goods: +2.2%

Inventory-to-sales ratio increased to 1.55 in May (from 1.54 in April), indicating slightly more months of inventory on hand at current sales levels

This article was written by Greg Michalowski at www.forexlive.com.


Leave a Reply

Your email address will not be published. Required fields are marked *

Contact information

If you have any queries or complaint reach us out.

Copyright: © 2024 – All Rights Reserved. Made with 💛 by A2Solutions.