Highlights of August wholesale trade sales

  • prior month revised lower to 1.1% from 1.5%
  • Canada also trade sales for August comes in at -0.1% versus -0.2% expected
  • wholesale sales were up 3.5% in August from a year earlier
  • sales ex autos +0.2% MoM and +6.2% YoY
  • Canada inventories -0.5%, up 8.5% YoY
  • Inventories ex-autos -0.6% up 10.3% YoY
  • sales fell in 4 of 7 subsectors representing 65% of total
  • inventories to sales ratio fell to 1.36 in August from 1.37 in July
  • largest upset contributor was machinery, equipment category at +0.46%
  • largest downside contributor was building materials and supplies category, -0.34%

The Bank of Canada is expected to raise rates by 0.25% on Wednesday to 1.75%. The market is pricing in a 91% chance of that happening.