Wholesale trade edges higher in May despite global uncertainty
OTTAWA — Canadian wholesale sales edged up in May, despite persistent trade tensions and global economic uncertainty.
According to Statistics Canada, wholesale trade excluding petroleum products and grain rose 0.1 per cent to $84.2 billion. It marked the fifth increase in the past seven months, with gains reported in five of seven subsectors. The personal and household goods subsector led the increase, rising 3.5 per cent to $12.4 billion after three consecutive monthly declines. Sales of motor vehicles and parts also grew by 2.2 per cent, driven by a 2.9 per cent increase in the motor vehicle industry group.
British Columbia posted the largest provincial gain, with sales rising 4.1 per cent to $8.1 billion. The increase followed three straight months of decline and was driven largely by a 12.3 per cent jump in the building material and supplies subsector. Ontario recorded a smaller gain of 0.6 per cent, while Quebec posted the sharpest drop among provinces at 1.5 per cent.
StatsCan also noted a decline in the reported impact of Canada–U.S. trade tensions. The proportion of businesses affected by cross-border trade issues fell from 43.6 per cent in April to 36.9 per cent in May. Businesses most frequently cited higher prices and increased costs for raw materials, shipping or labour.
Inventories were also up in May, rising 0.8 per cent to $130.3 billion. Increases were recorded in four of seven subsectors, led by building materials and personal and household goods.
In volume terms, wholesale sales excluding petroleum and grain rose 0.2 per cent.
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