By According to Statistics Canada, the advance estimate of Canadian wholesale sales rebounded in May 2020. The increase of 3.5% for the month, excluding petroleum, oilseed, and grain sales, was driven by miscellaneous wholesalers. Although the statistics agency continues to collect data for May, the early indicator was based on a weighted response rate of roughly 65%.
Segments with Strong Sales
The estimates show that sales were up strongly in the following segments:
- Miscellaneous
- Food, Beverage and Tobacco products
- Motor vehicles, parts, and accessories
- Machinery, equipment, and supplies.
Sales were down for farm products, personal and household goods, and building materials and supplies.
Previous Month’s Estimates
Earlier this month, Statistics Canada reported that wholesale sales, excluding petroleum, oilseed, and grain, dropped 1.4% in April from the month before on a seasonally adjusted basis to 80.87 billion Canadian dollars, equivalent to $61.34 billion. Total wholesale sales, the measure the data agency is transitioning to, edged up 0.4% on-month to C$123.43 billion.
The data agency is scheduled to release official May trade data on July 17.
Contact: Robb M. Stewart
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