Wholesale sales increase in December in six of seven sectors
Wednesday, February 17, 2010 at 10:37AM Wholesale sales increased by 0.7% in December, to $42.8 billion, Statistics Canada reported today. Measured by volume, the increase in wholesale sales is 1.5%, the difference representing lower prices for automotive products, machinery and electronic equipment. This is the sixth increase in seven months.
The higher sales were widespread; only the personal and household goods sector declined. Machinery and electronic equipment contributed most to the growth with a 1.2% increase to $8.8 billion. This sector includes machinery and equipment, computers and other electronic equipment, and office and professional equipment.
The second biggest increase was in the "other products" sector (up 1.4%) which includes fertilizer and agricultural suppliers, chemicals, recycled materials and paper products.
The building materials and automotive products sectors also saw increases of 1.3% and 0.9% respectively.
Wholesale sales in Alberta showed the highest gains, with an increase of 3.9%, to $4.9 billion, largely in machinery and electronic equipment. Building materials and "other products" boosted British Columbia's wholesale sales by 1.9%, while Quebec saw an increase of 0.5%, mainly in food, beverages and tobacco products.
Ontario saw a decrease of 0.2%.
For the tenth month in a row, inventories declined, falling 0.5% to $53.5 billion, their lowest level since December, 2006. The increased sales and declining inventories produced an inventory-to-sales ratio of 1.25, down from November's 1.27. This compares with December, 2008's ratio of 1.37.
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