After falling the previous month, wholesale sales in Canada rose 1.4% in August 2022 to hit a new high of $81.3 billion, according to data from Statistics Canada.
Gains were recorded in five of the seven retail subsectors, which account for 86% of wholesale sales.
subsectors for different products; Machinery, equipment and accessories; and Food, Beverage & Tobacco showed the strongest growth.
Agricultural supplies sales rose 13.2% to $5.2 billion, offsetting perceived declines elsewhere.
“This is the fourth consecutive increase for the industry. Demand for Canadian fertilizers remained strong amid ongoing conflict in Ukraine,” the agency said.
Quebec also saw an increase in these wholesale sales in August 2022, rising 2.2% to $14.3 billion. Five of the seven sub-sectors posted gains.
The machinery, equipment and supplies sub-sector contributed the most to this growth, rising 6.8% to $2.6 billion. Other products follow, reaching $1.7 billion (+9.2%).
Retail wholesaler inventories rose for the seventh straight month to $123.2 billion, up 1.5%.