Wholesale trade rebounds in May
Ottawa, ON -- Wholesale sales rebounded 0.9% in May 2006 to $41.8 billion, after declining 0.3% in April, Statistic...
Ottawa, ON — Wholesale sales rebounded 0.9% in May 2006 to $41.8 billion, after declining 0.3% in April, Statistics Canada reports. While most of the seven wholesale trade sectors registered gains, more than half of the increase was attributable to higher sales in the automotive sector. Excluding the automotive sector, sales rose 0.5%. Since September 2003, total wholesale sales have generally been rising.
Wholesalers of automotive products (+2.3%) and building materials (+1.8%) were the main contributors to sales growth in May. Only the farm products sector registered a decrease (-7.8%).
In constant dollars, wholesale sales increased 1.8% in May.
Metal products wholesalers (+5.0%) recorded a third consecutive increase in May. In recent months, this group has benefited from strong demand and improved market conditions. Steel prices continued to rise on uncertainties about availability. Steel-using sectors, such as non-residential construction, continued to post strong growth.