Canada Wholesale Transactions Climb 3.5% in November

By Kim Mackrael

OTTAWA--Canadian wholesale transactions rose in November for a fourth consecutive month, led by strength in the building materials and supplies and miscellaneous products sectors.

Statistics Canada said Wednesday that wholesale sales increased 3.5% on a seasonally adjusted basis in November, to 75.63 billion Canadian dollars, or the equivalent of $60.43 billion. Market expectations weren't immediately available.

In volume, or price-adjusted terms, sales rose 3.1% in November. On a one-year basis, nominal wholesale sales advanced 11.9%.

Meanwhile, the previous month's data was revised to show wholesale sales advanced 2.2%, compared with an earlier estimate of a 1.4% increase.

Wholesalers--the largest component of Canada's services sector--connect farmers or manufacturers that produce goods with companies and public institutions that use them. They also import goods from other countries and redistribute them within Canada.

The November report said sales of building materials and supplies rose 7.1% in November from the month before to C$12.33 billion because of gains in the lumber, millwork, hardware and other building supplies categories. Miscellaneous wholesale sales increased 5% to C$11.27 billion in November, led by strength in the agricultural supplies and the chemical and allied product industries.

Sales in the motor vehicle sector advanced 4.5% in November to C$11.35 billion to reach their highest level since February 2020, as more plants were able to receive the semiconductors required for vehicle production.

The value of wholesale inventories rose 4.3% in November to C$103.52 billion, marking their highest level on record.

Write to Kim Mackrael at [e-mail]

(END) Dow Jones Newswires

01-19-22 0910ET