Wholesale sales popped 9% from a year ago with all sectors up, says StatCan

Canadian wholesalers experienced a strong sales performance in June, with wholesale sales rising nine per cent compared to the same period last year, according to Statistics Canada. All seven subsectors reported higher sales, with the overall value exceeding $92.5 billion. This marked the fourth consecutive month of growth for wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons, as well as oilseed and grain products.

In volume terms, wholesale sales increased by 1.9 per cent from the previous month. The machinery, equipment, and supplies subsector saw the most significant sales growth, with an increase of 4.8 per cent month-over-month. Farm, lawn, and garden machinery and equipment were the primary drivers of this surge, with sales climbing an impressive 25.9 per cent.

Other notable increases were observed in agricultural supplies and recyclable materials, with sales rising by 8.3 per cent and 9.3 per cent, respectively. These were the largest gains in the miscellaneous subsector, which reached $12.5 billion in June. Sales in the food, beverage, and tobacco subsector also grew by 2.8 per cent to $16.4 billion, primarily driven by a 3.1 per cent increase in food sales.

The June report from Statistics Canada comes in the wake of the FIFA World Cup, which ran from June to July and boosted demand for tourism and entertainment, including at bars and restaurants across the country. The second quarter of the year (April through June) concluded with wholesale sales up 4.2 per cent compared to the first quarter, reaching $272.8 billion, excluding the aforementioned sectors.

On a volume basis, second-quarter sales grew by 2.8 per cent from the previous quarter, and the year-over-year sales value increased by 7.9 per cent.