Wholesale Sales Are Up

Wholesale sales rose 1.4 per cent in October to $72.5 billion, the highest level on record, says Statistics Canada. This was the sixth increase in the past eight months. Wholesale sales in October were 11.4 per cent higher than pre-pandemic levels in February 2020. The growth was largely due to a 7.1 per cent increase in the sales of motor vehicles and motor vehicle parts and accessories. Sales of building materials and supplies rose 1.9 per cent to $11.4 billion on higher sales of lumber and other building materials. The increase in the lumber and other building materials industry came as the price of lumber at the sawmill gate rose 6.2 per cent, as per the Industrial Product Price Index. This was the first price increase after four months of declines. Sales in the miscellaneous product subsector rose 1.9 per cent while sales of personal and household goods decreased 4.8 per cent. In Saskatchewan, wholesale sales went up 6.8 per cent in October to $2.9 billion. Sales in British Columbia grew 2.5 per cent to $7.3 billion with sales of building materials and supplies up 4.4 per cent. Sales decreased the most in Nova Scotia, finishing 7.7 per cent lower than in September at $1.0 billion.