2024-11-15 16:34:00
(Ottawa) Wholesale trade sales, excluding petroleum, petroleum products and other hydrocarbons, as well as oilseeds and grains, increased 0.8% to reach $82.3 billion in September, according to Statistics Canada.
This increase is attributable to an increase in sales in five of the seven subsectors. Those for motor vehicles and motor vehicle parts and accessories climbed 2% to reach $14.1 billion.
Expressed in volume, wholesale sales, excluding petroleum, petroleum products and other hydrocarbons, as well as oilseeds and grains, jumped 0.9% in September.
In another report, Statistics Canada indicates that manufacturing sales fell 0.5% to $69.1 billion in September, the second consecutive monthly decline.
The federal agency says sales of petroleum and coal products fell 7.5% to $7.1 billion, while production of aerospace products and parts fell 4.2% to reach 2.5 billion. Excluding petroleum and coal products, total manufacturing sales increased 0.4% in September.
In constant dollars, total manufacturing sales fell 0.4% in September.
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What are the key factors contributing to the growth in wholesale trade sales as discussed by Dr. Carter?
**Interview with Dr. Emily Carter - Economic Analyst**
**Interviewer**: Thank you for joining us today, Dr. Carter. Recent data from Statistics Canada shows that wholesale trade sales, excluding certain products, increased by 0.8% in September, bringing the total to $82.3 billion. What do you think is driving this growth?
**Dr. Carter**: Thank you for having me. The increase in wholesale trade sales can be attributed to several factors. Primarily, we are seeing a post-pandemic recovery where businesses are ramping up their inventories to meet the rising consumer demand. Additionally, industries such as construction and manufacturing are starting to pick up, which contributes to overall sales growth.
**Interviewer**: That makes sense. Just to clarify, the reported figure excludes petroleum, petroleum products, and some agricultural goods. How significant is this exclusion in understanding the broader economic context?
**Dr. Carter**: It’s quite significant. The energy sector, particularly oil and gas, can distort overall sales figures due to its volatility. By excluding those sectors, we get a clearer picture of the underlying trends within the wholesale trade sector. It reflects a more stable economic environment and highlights the strength of other industries.
**Interviewer**: Are there any particular industries that you believe are performing exceptionally well within this growth?
**Dr. Carter**: Yes, sectors like electronics and machinery are seeing strong performance. The demand for technology and equipment has surged as businesses upgrade operations and embrace automation. Additionally, construction supplies are witnessing increased sales due to ongoing infrastructure projects.
**Interviewer**: With these trends, what do you foresee for the wholesale trade sector in the coming months?
**Dr. Carter**: If the current trajectory continues, we can expect sustained growth in the wholesale trade sector, especially as we approach the holiday season. However, potential challenges, such as supply chain disruptions and inflationary pressures, could impact this momentum. It will be crucial to monitor these factors closely.
**Interviewer**: Thank you, Dr. Carter, for your insights. It seems there is cautious optimism for wholesale trade as we move forward.
**Dr. Carter**: Always a pleasure to discuss these important economic trends. Thank you!
