Wholesale sales continued their yo-yo journey in October, according to figures released this morning by Statistics Canada.
The agency put the figure at $56.6 billion, or up 1.1% in September, offsetting most of that month's 1.5% decrease. The nation's number crunchers reported gains were recorded in five sub-sectors, led by higher sales in the building material and supplies, motor vehicle and parts, and food, beverage and tobacco sub-sectors.
The five sub-sectors in question represent about 87% of total wholesale sales.
The building material and supplies sub-sector recorded the largest increase in dollar terms, up 2.8% to $7.6 billion on the strength of sales in the lumber, millwork, hardware and other building supplies industry, which recorded the lone increase (+5.6%) and reached a record high. Exports of forestry products and building and packaging materials increased in October.
StatsCan also reported that sales in the motor vehicle and parts sub-sector improved 1.8% to $11.3 billion in October. While sales increased in two of three industries in the sub-sector, sales in the motor vehicle industry rose 1.2% to a record high and accounted for more than half of the advance in the sub-sector. Imports and exports of motor vehicles and parts increased in October.
