Wholesale trade sales and inventories rose slightly in November
Ottawa, ON -- Canadian wholesalers sold goods and services worth $37.9 billion in November 2004, up 0.5% compared w...
Ottawa, ON — Canadian wholesalers sold goods and services worth $37.9 billion in November 2004, up 0.5% compared with October, reports Statistics Canada. The increases in October and November were not enough to recover the ground lost in September, when wholesale sales experienced a steep drop (-1.7%). Previously, total wholesale sales had generally been rising since September 2003.
In November, 9 of the 15 trade groups, whose sales accounted for 48% of total sales, posted gains. The groups contributing the most to the increase were household and personal goods (+6.5%) and computers and other electronic equipment (+2.9%). The automotive group (-1.4%) and the ‘other products’ category (-1.3%) registered the steepest declines.
In constant dollars, wholesale sales rose 1.9% in November.
Inventories registered a third consecutive rise in November (+0.9%). The increase was mainly attributable to machinery and equipment, the ‘other products’ category and motor vehicles. Together, these groups account for approximately 40% of total inventories of wholesalers. The trend in total inventories has generally been upward since November 2003, following a five-month period when wholesalers reduced their inventories.
The increase in inventories, combined with a smaller increase in sales, caused the inventory-to-sales ratio to rise from 1.21 in October to 1.22 in November. Since September 2004, the ratio has followed a slight upward trend after a period of decreases that began in October 2003.