- Prior month -2.8% revised to -2.1%
- Wholesale sales (excluding certain products) rose by 0.2% versus +1.4% expected.
- Total wholesale trade came in at $81.3 billion in July.
- The growth was driven by the motor vehicle and building material subsectors, despite declines in most other subsectors.
- Yearly, the wholesale sales (with exclusions) increased by 1.1%.
- Petroleum products and oilseed and grain data are present in tables but excluded from monthly analysis until historical data is available.
- The British Columbia port strike affected supply chains mainly on Canada's west coast but had a minor effect on the wholesale sector in July.
- Nationally, the port strike affected less than 5% of wholesale businesses.
- Constant dollar sales (with exclusions) also saw a 0.2% rise in July.
- Wholesale inventories (excluding certain products) increased by 0.4% to $128.4 billion in July.
- Four out of seven subsectors reported inventory growth in July.
- The machinery, equipment and supplies subsector led with a rise of 1.5% to $37.8 billion.
- The motor vehicle subsector followed with an increase of 1.6% to $16.2 billion.
- The inventory-to-sales ratio dropped from 1.59 in June to 1.58 in July, indicating the time needed to deplete inventories at current sales rates.
Motor vehicle and parts subsector sales increased by 3.9% to $14.1 billion in July.
- This is the third monthly rise since 2023 began.
- Two out of three industry groups reported growth, with the motor vehicle industry group's sales (+4.2% to $11.4 billion) being the primary driver.
- Exports in this subsector also grew by 2.1% in July.
Building material and supplies subsector saw a growth of 2.7% to $12.0 billion in July.
- This is the first increase for this subsector since March 2023.
- Two out of three industry groups reported growth, with the lumber and other building supplies group (+4.6% to $5.9 billion) having the most impact.
- Factors like Pacific Northwest wildfires and the British Columbia port workers' strike led to higher lumber prices and increased sales.
The machinery, equipment, and supplies subsector declined by 2.2% to $17.4 billion.
- Most industry groups in this subsector reported a decrease in sales.
- The largest declines were in the farm, lawn, and garden machinery group (-13.2% to $2.2 billion) and the computer and communications equipment group (-4.7% to $4.9 billion).