Wholesale Sales Continue Momentum

Wholesale sales grew 0.9 per cent to $66.2 billion in September and remained higher than February's pre-COVID-19 level for the third straight month, says Statistics Canada. In September, four subsectors recorded higher sales, with the food, beverage, and tobacco and the personal and household goods subsectors contributing the most. In volume terms, wholesale sales fell 0.2 per cent. The personal and household goods subsector increased 3.4 per cent to $10 billion in September after rising in four of the previous six months. The increase reflects a 7.2 per cent growth in the pharmaceutical and pharmacy supplies industry. With sales at $5.3 billion, this industry accounted for 53 per cent of the sales in this subsector. Sales increased in seven provinces in September, accounting for more than 90 per cent of total wholesale sales and led by Quebec and Ontario. Wholesale inventories increased by 0.7 per cent to $90.7 billion in September. It was the second straight positive month after three consecutive months of declining inventories.