StatsCan says wholesale sales up 1.4% in October at record $72.5B
BNN Bloomberg
Statistics Canada says wholesale sales climbed to a record high in October, led by gains in sales in the auto sector as automakers were able to secure semiconductor chips that have been in short supply.
OTTAWA - Statistics Canada says wholesale sales climbed to a record high in October, led by gains in sales in the auto sector as automakers were able to secure semiconductor chips that have been in short supply.
The agency says wholesale sales rose 1.4 per cent in October to $72.5 billion, the highest level on record, as five of the seven subsectors climbed higher for the month.
Sales of motor vehicles and motor vehicle parts and accessories led the gains as they added 7.1 per cent for the month to reach $10.8 billion.
Higher sales of lumber and other building materials helped boost sales of building material and supplies which rose 1.9 per cent in October to $11.4 billion.
The miscellaneous product subsector gained 1.9 per cent at $10.6 billion.
In constant dollar terms, Statistics Canada says wholesale sales grew 0.6 per cent in October.
