Wholesalers sold $52.9 billion worth of goods and services in July, down 0.3% from June but 6.1% higher than in July 2013. Excluding the automotive sector, wholesale sales were up 4.9% from July 2013.
In terms of volume, wholesale sales were down 0.6% in July from June.
Annualized wholesale sales grew in nine provinces. Prince Edward Island (+16.5%) led the way, followed by Manitoba (+10.0%) and British Columbia (+8.5%). Quebec’s wholesale sales were up 2.6% from July 2013 while Ontario’s annualized increase was 7.2%. The only year-over-year lose occurred in Newfoundland and Labrador (-1.0%).
Wholesalers’ inventories in July increased 1.0% from June to $66.5 billion and were up 7.1% from July 2013. Gains were recorded in all sectors. The largest monthly increase, in dollar terms, was accounted for by the motor vehicle and parts industry (+2.9%). Inventories in the building materials and supplies industry grew 1.1% in July from June, their fifth straight monthly gain. The inventory-to-sales ratio was 1.26 in July, up from 1,24 in June. The ratio is a measure of the time in months required to exhaust inventories if sales were to remain at their current level.
Wholesale sales of building materials and supplies were $7.6 billion in July, down 0.3% from June, but a 9.0% increase from July 2013. Inventories were valued at $11.9 billion, up 1.1% from June and 3.4% higher than in July 2013.
Wholesale sales of electrical, plumbing, heating and air-conditioning equipment and supplies stood at $2.3 billion in July, up 1.2% from June and 7.4% higher than in July 2013. Inventories were valued at $3.2 billion, down 0.8% from June but 5.0% higher than in July 2013.
Wholesale sales of metal service centres were $1.8 billion in July, up 1.6% from June and an increase of 15.0% from July 2013. Inventories were valued at $3.6 billion, up 2.8% from June and a 6.8% increase from July 2013.
Wholesale sales of lumber, millwork, hardware and other building supplies were $3.5 billion in July, down 2.2% from June but a 7.4% increase from June 2013. Inventories were valued at $5.2 billion, up 1.2% from June and a 0.3% increase over July 2013.