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

RCMP officer accused of sexual assault could take stand Thursday

Crown prosecutor expected to finish her case in morning

Red Deer area has lower than average vaccination rates

Medical officer of health encourages parents to prevent serious diseases

Red Deer school hopes community will help keep meal program running

Funding for provincial nutrition program not guaranteed in the fall

Red Deer-area farmers need this week’s rainfall

County ag specialist favours moderate showers— not a deluge

WATCH: New RDC president has three decades of experience working at colleges and universities

Peter Nunoda says he’s ‘excited’ to help transition the college into a university

RCMP allows officers to grow beards

Members can now wear beards and goatees, as long as they’re neatly groomed

Former starting QB Mike Reilly returning to Edmonton as member of B.C. Lions

Mike Reilly returns to Commonwealth Stadium on Friday night, but Edmonton head… Continue reading

Ottawa Redblacks look to improve in Week 2 against Saskatchewan Roughriders

OTTAWA — The Ottawa Redblacks are confident things can only get better.… Continue reading

Opinion: Trans Mountain pipeline proceeds should be invested in Alberta

By David Marsden There’s a much-expected sigh of relief now that the… Continue reading

Why Solar: Alberta is serious about the energy transition

The powers that be are a misguided bunch, literally. It would seem… Continue reading

Follow the money: Salary cap could spawn NHL trade frenzy

Matt Niskanen wasn’t totally shocked when the Washington Capitals traded him to… Continue reading

Rugby Canada chooses 43-man long list for Pacific Nations Cup tournament

Captain Tyler Ardron, who plays in New Zealand for Super Rugby’s Chiefs,… Continue reading

Most Read