Canada wholesale trade for March -0.1% versus -0.4% expected

• Prior month -1.7%
• Wholesales trade MoM manage -0.1% versus -0.4% expected with declines in four of seven subsectors.
• Wholesale inventories rose 0.7%, the 4th consecutive monthly increased
• inventory to sales ratio increased from 1.52 months in February to 1.54 months in March

Other details of the report show:

• The decrease was mainly led by the miscellaneous subsector and the machinery, equipment, and supplies subsector.
• Despite the decrease, wholesale sales were 6.9% higher than in March 2022 when excluding oilseeds, grains, and petroleum.
• Sales in the miscellaneous subsector fell 6.1% to $11.4 billion in March.
• The machinery, equipment, and supplies subsector declined 2.0% to $18.0 billion in March.
• The decline was offset by a 19.1% increase in sales from the farm product subsector to $4.7 billion.
• Sales increased in most provinces, led by Quebec, followed by Ontario and British Columbia.
• In Q1 2023, wholesale sales (excluding oilseeds and grains, and petroleum) increased 0.5% to $249.4 billion, reflecting slower growth due to lower sales in February and March.
• The largest growth in quarterly sales came from the machinery, equipment, and supplies subsector (+3.7% to $54.3 billion) and the personal and household goods subsector (+4.1% to $35.7 billion).
• On an annual basis, quarterly sales grew 4.6% in Q1 2023 compared to the same period in 2022.

Trade down, inventories up, points toward lower demand perhaps.

/inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term