Statistics Canada reports wholesale sales rose in July

The latest report from Statistics Canada reveals that wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons as well as oilseed and grain, increased by 0.3 per cent to $93.1 billion in July. This growth was observed in three out of the seven subsectors being monitored. The building material and supplies subsector saw a significant rise of 3.5 per cent, reaching $13.8 billion.

Meanwhile, the food, beverage, and tobacco subsector experienced a 1.7 per cent increase, totaling $16.7 billion. However, the miscellaneous subsector contracted by 2.9 per cent, amounting to $12.3 billion, as sales in the mineral, ore, and precious metal industry group fell by a staggering 31.4 per cent to $899.6 million. In terms of volume, wholesale sales declined by 0.6 per cent in July.

It's worth noting that Statistics Canada has recently started incorporating oilseed and grain, as well as petroleum and petroleum products, into its wholesale trade analysis. However, this data is not yet included in the monthly report until sufficient historical data becomes available for comparison.