Related
Internal Links
Wholesale trade fell 1.4 per cent to $41 billion in August, following a 2.6 per cent increase in July, Statistics Canada said Tuesday.
Weaker sales in the automotive products, machinery and electronic equipment, and building materials sectors were the major factors contributing to the decline, the data agency said.
Following a 17.8 per cent increase in July, sales of motor vehicles fell 4.7 per cent in August, the first decline in seven months.
Regionally, the weakness was widespread, with most provinces posting declines.
After posting increases in July, wholesalers in Ontario and Quebec both reported lower sales in August. Ontario, which accounts for about half of Canada's total wholesale sales, saw a decrease of 2.2 per cent. Quebec sales declined by one per cent.
In the West, the declines were closer to the national average. Wholesale sales fell by 1.4 per cent in Alberta and 1.6 per cent in British Columbia, primarily as a result of lower sales in the machinery and electronic equipment sector.
Provincially, Saskatchewan registered a 6.8 per cent increase in August, the largest in the country. That followed a 4.8 per cent decline in July.
"The overall story is one in which the Canadian wholesale sector has one toe in the healthy domestic side of the economy, and one toe in the soft foreign-facing side," Eric Lascelles, Chief Economics Strategist with TD Securities, said in a commentary.
He predicted the Canadian economy is now on track for a 0.2 per cent decline for August compared with the month earlier, although that depends on how well retail sales did.
Economic data out of the U.S. sent mixed signals Tuesday.
The Labour Department said wholesale prices fell in September, pulled down by lower energy prices.
At the same time, the Commerce Department said home building rose 0.5 per cent in September but applications for building permits fell by 1.2 per cent, the largest amount in five months.
Share Tools
Top News Headlines
- Canadian Pacific strikers face back-to-work legislation
- Labour Minister Lisa Raitt is prepared to end the Canadian Pacific Railway strike if necessary, after both CP and the union rejected a proposal for voluntary arbitration by the government-appointed negotiator on Sunday. Raitt says she is "extremely disappointed."
more »
- Quebec students and province to resume talks
- Quebec's university student federation has confirmed negotiations between student leaders and the provincial government will resume Monday afternoon. more »
- Tropical storm Beryl strikes southeast U.S. coast
- Tropical storm Beryl has arrived at the southeastern U.S. coast, bringing heavy rain, winds and the possibility of flooding. more »
- Ryder Hesjedal wins prestigious Giro d'Italia
- Victoria native Ryder Hesjedal has become the first Canadian to win one of the cycling world's three Grand Tour events, wrapping up the 2012 Giro d'Italia with an excellent performance in the final stage in Milan. more »
- Tony Blair testifies at U.K. phone hacking inquiry
- Former British prime minister Tony Blair is questioned by an inquiry into media ethics set up to deal with the fallout from the phone hacking scandal at Rupert Murdoch's News Corp. media empire. more »
Latest Business Headlines
- Bankia asks Spain for €19B
- The board of directors of Spain's troubled bank, Bankia, has asked the Spanish government for €19 billion ($24.5 billion Cdn) in financial support. more »
- EI reforms aim to boost employment, Flaherty says
- Finance Minister Jim Flaherty defended his government's proposals to change employment insurance, saying the aim is to remove "disincentives to employment." more »
- Employment Insurance review boards to be scrapped
- The federal government is scrapping two review boards used by people appealing decisions made about their employment insurance. more »
- Ottawa moves to limit foreign investment reviews
- The federal government is raising to $1 billion the amount of foreign money that can go into a Canadian company before the investment is reviewed. The review has been used in the past to block foreign takeovers of MDA and Potash Corp. more »
Lang & O'Leary Exchange
Markets
| Index | Last Trade | Change |
|---|---|---|
| TSX COMPOSITE | 11576.47 | 0 |
| DOW | 12454.83 | 0 |
| NASDAQ | 2837.53 | 0 |
| SP 500 | 1317.82 | 0 |
| NYSE COMPOSITE | 7534.32 | 0 |
| AMEX | 2227.37 | 0 |
| TSX-VENTURE | 1309.27 | 0 |
The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.
Business Features
- Seniors float above Montreal's Quartier Latin
- Remains found in bag on Cape Breton river ID'd
- Accused in blast that killed Alberta mom handled her funds
- Neighbour may have helped find missing kids in Mexico
- Quebec students and province to resume talks
- Lip-dub marriage proposal an internet hit
- Runner dies after collapsing in Cape Breton race
- Canadian Pacific strikers face back-to-work legislation
- Syrian regime denies role in Houla massacre

