Canadian Wholesale Revenues Fall 1.6% in September
Product DetailsRelease taken from Statistics Canada, www.statcan.ca
Canadian wholesalers ended the third quarter on a bit of a down note as the industry recorded its largest monthly drop so far this year. Despite the drop, sales growth in the third quarter accelerated thanks to the gains made in the previous two months.
After rising in the previous two months, sales fell by 1.6% in September to $41.8 billion. Five of the seven wholesale sectors, representing 85% of sales, declined in September, with wholesalers of automotive products (-3.4%) and machinery and electronic equipment (-3.3%) bearing the brunt of the decrease. The only positive notes came in the building materials (+1.0%) sector, where sales were bolstered by a rebound in lumber and millwork sales, ...