Wholesale trade declines in April
  • Canada wholesale trade falls -0.5% vs. 0.2% estimate. This is the 2nd decrease in the 3 months
  • Prior month revised to +0.6% from 0.3% originally reported
  • sales fell and 5 of 7 subsectors
  • sales in the miscellaneous merchant wholesalers declined 3.4% to $11.5 billion in April. That was the weakest of the subsectors
  • The building material and supplies merchant subsector dropped for the second time in three months, down 1.4% to $14.0 billion in April.
  • Sales in the machinery, equipment and supplies subsector increased by 1.8% have risen in seven of the past eight months.
  • Inventories rose 1.7% to $111.5 billion in April, the third consecutive monthly increase. All seven subsectors reported increased inventories for the first time since May 2019, led by the machinery, equipment and supplies (+2.0%), and the building material and supplies subsectors (+2.2%). Wholesalers of the miscellaneous subsector had gains in inventories of 2.1% to $15.9 billion in April.