The amount Canadian companies paid out for goods at the wholesale level made advances in October, mostly on the strength of sales of machinery, equipment and supplies.
Statistics Canada reported early Thursday that wholesale sales gained 1.0% to $63.8 billion in October, more than making up for the 0.7% decline in September. Sales were up in four of seven sub-sectors, representing about 68% of the total wholesale trade.
The machinery, equipment and supplies, and the personal and household goods sub-sectors contributed the most to the gains in October, while the motor vehicle and parts sub-sector posted the largest decline.
In volume terms, wholesale sales increased 0.9%.
The nation's number crunchers further state that machinery, equipment and supplies improved 2.8% to $13.4 billion in October, a third increase in four months. Sales were up in three of four industries, led by the farm, lawn and garden machinery and equipment industry (+9.4%), the first increase there in four months. Imports of industrial machinery, equipment and parts (+1.5%) and manufactured machinery sales (+2.9%) also increased in October.
