Wholesalers sold $50.5 billion worth of goods and services in March, down 0.4% from February but 2.9% higher than in March 2013. Excluding the automotive sector, wholesale sales were up 2.1% from March 2013.
In terms of volume, wholesale sales were down 0.2% in March from February.
Annualized wholesale sales grew in eight provinces. Newfoundland and Labrador (+15.9%) led the way, followed by Manitoba (+12.8%) and Prince Edward Island (+10.8%). Decreases occurred in Nova Scotia (-4.6%) and Saskatchewan (-1.3%). Quebec’s wholesale sales were up 1.2% from March 2013. Ontario’s annualized increase was 2.2%.
Wholesalers’ inventories in March increased 2.3% from February to $64.1 billion and were up 4.4% from March 2013. The largest monthly increases, in dollar terms, were accounted for by the motor vehicle and parts industry (+6.9%) and the machinery, equipment and supplies industry (+1.7%). This was the third consecutive monthly increase for both of these sectors. Inventories in the building materials and supplies industry grew 2.8% in March from February, their third gain in four months. The inventory-to-sales ratio was 1.27 in March, up from 1.24 in February. 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 $7.1 billion in March, up 0.7% from February, the third consecutive monthly gain, and a 2.7% increase from March 2013. The $7.1 billion in total sales was the highest on record for the industry. Inventories were valued at $11.5 billion, up 2.8% from February but down 1.5% from March 2013.
Wholesale sales of electrical, plumbing, heating and air-conditioning equipment and supplies stood at $2.2 billion in March, up 3.4% from February and 2.4% higher than in March 2013. Inventories were valued at $3.0 billion, down 0.7% from February and 6.9% lower than in March 2013.
Wholesale sales of metal service centres were $1.6 billion in March, down 0.7% from February but an increase of 9.0% from March 2013. Inventories were valued at $3.2 billion, up 0.4% from February but a 5.9% decrease from March 2013.
Wholesale sales of lumber, millwork, hardware and other building supplies were $3.3 billion in March, down 0.4% from February and a 0.1% increase from March 2013. Inventories were valued at $5.3 billion, up 6.6% from February and a 4.9% increase over March 2013.