OTTAWA -- Canadian wholesale trade experienced a notable increase in August, driven by higher sales of machinery, equipment, supplies, and miscellaneous goods, according to Statistics Canada. The advance results suggest a 2.6% rise for the month, based on a weighted response rate of approximately 58%. The statistics agency is currently collecting data for August to finalize the estimates.
Notably, sales of farm products surged by 6.1%, aligning with the increase in machinery, equipment, and supplies sales. The miscellaneous goods sector also witnessed a significant boost with a sales growth of 7.6%. Other sectors that showed strength include personal and household goods, motor vehicles and parts, and building materials and supplies. However, sales of food, beverages, and tobacco products dipped by 0.4% compared to the previous month.
In July, Statistics Canada reported a seasonally adjusted growth of 0.2% in wholesale sales (excluding petroleum, oilseed, and grain) to CAD 81.33 billion (USD 60.32 billion). Meanwhile, total wholesale sales, which the data agency is transitioning to as the primary measure, saw an impressive 5.3% increase to CAD 128 billion on a month-by-month basis.
The official August trade data is scheduled to be released by the data agency on October 16th.