Statistics Canada says wholesales sales fell in September

Statistics Canada said Monday the value of wholesale sales fell 1.2 per cent in September to $56.0 billion.

OTTAWA — Statistics Canada said Monday the value of wholesale sales fell 1.2 per cent in September to $56.0 billion.

Economists had expected a gain of 0.4 per cent from the previous month, according to Thomson Reuters.

CIBC economist Nick Exarhos noted that the softness was reflected in the volume of wholesale sales, which fell 1.5 per cent.

“We’re hopeful that strong retail figures tomorrow make up for some of the lost ground, but it looks like September will be a lacklustre month for output,” Exarhos wrote in a note to clients.

“After some strong months, today’s release won’t change our third-quarter forecast much. But it will mean that the fourth quarter, which is likely the decisive quarter for the Bank of Canada on whether to ease (rates) or not, will get a weak hand-off.”

The drop in wholesale sales follows increases in four of the previous five months.

Statistics Canada said wholesale sales fell in five of the seven subsectors it tracks, led by the machinery, equipment and supplies and the miscellaneous subsectors.

The machinery, equipment and supplies subsector posted the largest drop in dollar terms for the month as it fell 4.0 per cent to $10.9 billion, its lowest level since April. The miscellaneous subsector fell 3.1 per cent to $7.0 billion.

Wholesale sales in volume terms fell 1.5 per cent in September.

The results come ahead of retail sales data for September on Tuesday morning and third-quarter growth figures on Nov. 30.

Just Posted

One strong wind leaves years of replanting work for Red Deer parks staff

High visibility boulevards already replanted, neighbourhood work starts next year

Red Deer-area indigenous filmmakers invited to apply for $20,000 grant

Storyhive launches Indigenous Storyteller Edition

Restaurant closed after compliance team patrol

Public Safety Compliance Team checked eight bars and restaurants on Oct. 19

Red Deerians await local cannabis stores

So far 31 stores in Alberta awarded licence to operate

Rimbey RCMP seek missing man with health concerns

Has anyone seen Bill Harris of Ponka County?

WATCH: Make-A-Wish grants Star Wars loving teen’s wish

The Make-A-Wish Foundation granted Anakin Suerink’s wish in Red Deer Saturday afternoon

iPhone XR makes the right trade-offs for a cheaper price

NEW YORK — Apple offers you a simple trade-off with its new… Continue reading

BMW to recall 1.6 million vehicles worldwide over fire risk

FRANKFURT — Automaker BMW says it is expanding a recall to cover… Continue reading

Calgary awaits federal financing on 2026, Notley suggests IOC could pay more

CALGARY — With the clock ticking towards a Calgary vote on hosting… Continue reading

Toronto Mayor John Tory cruises to victory; tech issues extend voting elsewhere

Toronto Mayor John Tory easily won re-election on Monday after a spirited… Continue reading

Local Sports: Rudy Soffo valuable to Kings on the court

When Rudy Soffo first saw the RDC basketball Kings roster he was… Continue reading

Except for 1 kick, Saints, Ravens are evenly matched

BALTIMORE — In a matchup between the league’s highest-scoring offence and top-ranked… Continue reading

Julia Louis-Dreyfus gets a top award for comedy

WASHINGTON — After a 35-year acting career and with two iconic television… Continue reading

Ricky Skaggs, Dottie West enter Country Music Hall of Fame

NASHVILLE — Bluegrass and country star Ricky Skaggs, singer Dottie West and… Continue reading

Most Read