Wholesale sales, excluding key sectors, dropped 1.1 percent to $81.4 billion, led by a fall in motor vehicle sectors
Statistics Canada has reported that wholesale sales, excluding petroleum, petroleum products, other hydrocarbons, oilseed, and grain, decreased by 1.1 percent to $81.4bn in March.
According to BNN Bloomberg, the agency highlighted that this overall decline was driven by reduced sales in three of the seven subsectors it monitors.
The most significant decline was in the motor vehicle and motor vehicle parts and accessories subsector, where sales dropped 5.8 percent to $13.4bn in March.
Within this subsector, the motor vehicle industry group saw a 7.0 percent decrease to $10.6bn, attributed to retooling work at several auto plants. Additionally, the new and used motor vehicle parts industry group experienced a 1.2 percent fall to $2.7bn.
Conversely, the machinery, equipment, and supplies subsector saw a rise, with sales increasing by 1.6 percent to $17.9bn. The miscellaneous subsector, however, faced a decrease, falling 5.0 percent to $10.2bn.
In volume terms, wholesale sales, once again excluding petroleum, petroleum products, other hydrocarbons, oilseed, and grain, decreased by 1.2 percent in March.
Statistics Canada has started to include oilseed and grain, as well as the petroleum and petroleum products subsector in its analysis of wholesale trade. However, these categories are excluded from monthly analysis until sufficient historical data is accumulated.
