December 6, 2022

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Canada May wholesale sales +0.5% vs +1.1% expected

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Canada May wholesale trade sales

Canada May wholesale trade sales
  • Prior was +0.4%
  • Third consecutive rise
  • four of seven subsectors higher
  • In May 2021, they were 11.0% higher than the pre-pandemic level in February 2020
  • Full report

This was overwhelmingly driven by the food, beverage and tobacco subsector which reported growth of 2.7% and was responsible for 95% of the gain.

From Statistics Canada:

The sustained increase in sales in the sector reflects the variety of
services that wholesalers provide, even with the shifts in economic
activity brought on by the pandemic. While sectors such as
transportation, tourism and hospitality have all suffered significant
declines, wholesalers have benefited from the increased demand for
building materials, machinery (including computer and electronic
products), and personal and household goods.

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