After you have registered in April a diving record because of the pandemic of COVID-19, sales of wholesalers rose in may.
July 17, 2020 21h21
After a dip record, wholesale sales up in may
The canadian Press
OTTAWA — wholesale sales rose in may, after having registered in April, a dip record because of the pandemic of COVID-19, reported Friday by Statistics Canada.
The value of wholesale sales increased 5.7 % to $ 52.6 billion in may, after having registered a decline of 21.4% in April, said the federal agency.
Economists were expecting on average an increase of 8.5 % in may, according to the forecasts collected by the company financial data Refinitiv.
The economist of CIBC, Katherine Judge, noted that wholesale sales had not been as hard hit as retail sales or manufacturing in march and April.
“As the economy continues its reopening and that the demand is picking up, and at the same time as more stocks become available, a further increase in wholesale trade should be expected,” wrote Ms. Judge in a note to clients.
“That said, as it has not fallen as hard, it will likely continue to recover at a slower pace than the [other] industries.”
According to Statistics Canada, with the pandemic of COVID-19 and the closures of railways which have preceded it because of the barricades, wholesale sales fell by $ 15.3 billion from February to April.
Taking into account the increase of $ 2.8 billion recorded in may, wholesale sales were still below 19.2% to their January level.
Six of the seven sub-sectors studied by Statistics Canada showed an increase in their sales.
The sub-sectors of the building material and supplies, and motor vehicles and parts and accessories for motor vehicles contributed the most to the increase in the value of sales.
The sales of the sub-sector of wholesale trade of building material and supplies increased by 16.1 % to 7.8 billion, while those of the sub-sector of motor vehicles and of parts and accessories for motor vehicles have risen by 33.4 % to reach $ 4.2 billion in may.
Wholesalers of machinery, equipment and supply have indicated that their sales had declined by 4.7 % to reach $ 11.5 billion.
Expressed in terms of volume, wholesale sales have increased 5.2% in may.