Canada Wholesale Sales Estimated to Have Fallen 1.1% in August

Robb M. Stewart

OTTAWA--An advance estimate of Canadian wholesale trade indicates sales retreated in August.

Statistics Canada on Thursday said an advance tally of wholesale sales points to a drop of 1.1% from the month before.

The agency said the pullback in sales reflected declines in five of the seven wholesale sectors it tracks, but didn't provide details.

The early indicator was based on a weighted response rate to Statistics Canada's survey of 65.5%. The data agency is scheduled to release official wholesale trade data Oct. 15.

In July, sales in the wholesale sector rose 0.4% from the prior month to a seasonally adjusted 82.73 billion Canadian dollars, the equivalent of $61.35 billion, and were up 0.5% in volume terms. The advance was driven by sales of agriculture supplies, as well as a recovery in food, beverage and tobacco trade.

Wholesalers--the largest component of Canada's services sector--connect farmers or manufacturers that produce goods with companies and public institutions that use them. They also import goods from other countries and redistribute them within Canada. Statistics Canada's wholesale measure excludes petroleum and oilseed and grain.

Statistics Canada's flash estimate for manufacturing trade pointed to a 1.5% drop in sales last month, following a 1.4% increase in July from the month before.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

September 26, 2024 08:54 ET (12:54 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.