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Canadian wholesale sales rebound in October after September dip

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Canadian wholesale sales rebound in October after September dip

Canadian wholesale sales rose 1.5% to C$63.0 billion in October, rebounding from the revised decrease of 1.1% in September, with the machinery, equipment and supplies subsector posting the largest increase, Statistics Canada said.

Sales in that subsector jumped 5.2% to C$12.7 billion in October, leading five other categories. Sales in the personal and household goods subsector, which declined September, came in at C$8.9 billion in October, up 3.4%.

The motor vehicle and parts subsector recorded the lone decrease, Statistics Canada said, slipping 2.3% to C$11.8 billion. Motor vehicle industry sales decreased 3.1% to C$9.6 billion, accounting for most of the decline and marking the first decrease in four months.

Sales increased in nine provinces, with Quebec posting the largest gain at 3.2% after a revised decline of 1.3% in September.

Wholesale posted a slight increase of 0.8% to C$82.1 billion in October, the sixth gain in seven months, according to Statistics Canada. In volume terms, wholesale sales rose 1.2%.