(OTTAWA) Sales of Canadian wholesalers fell 2.1% to $70.1 billion in July, dragged down by a drop in the building materials and supplies sector due to lumber prices, Statistics Canada reported Thursday.
This is the second consecutive monthly decline in wholesale sales, and the largest since April 2020, the federal agency said.
Sales of building materials and supplies fell 12.4% as a result of lower timber prices, while sales of personal and household goods fell 1.6% and sales of food, beverage and tobacco products fell 0.8%.
The largest increase was noted in the automotive parts and accessories sector, which rose by 1.8%.
Excluding building materials and supplies, wholesale sales advanced 0.1%.
Quebec wholesalers’ sales, which hit a record in June, fell 8.8% to $13.4 billion in July. Statistics Canada said the drop represented more than three-quarters of the drop in the country’s wholesale sales.
Expressed in constant dollars, total wholesale sales fell 2.4% in July.
Sophie Laurent is a contributor to Vaughantoday.ca, covering a wide range of topics including local news, politics, business, technology, sports, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting that helps readers stay informed about current events and issues that matter to their communities. Sophie is committed to presenting accurate information, practical insights, and relevant stories in a straightforward and reader-friendly manner, making complex topics accessible to a broad audience.