Thursday, January 22, 2009

Canada's wholesale trade tumbles again

Canada's wholesale sector sold fewer products in November, the third month in the past four in which the indicator dropped, according to new numbers released Wednesday.

Statistics Canada said that domestic wholesalers sold $44.4 billion worth of goods in the second-last month of the year. That was down 1.6 per cent compared to October and more than four per cent off of July's sales of $46.3 billion, the highest point for this number in the past five months.

Unlike other sectors such as retail, wholesalers sell both in the domestic and export markets. Thus, flagging sales for this crowd indicated that Canadian companies are having trouble selling their wares both at home and abroad, Statistics Canada said.

"The decline in sales reflected both lower export demand for Canadian goods, a significant part of which flows through wholesale markets, and weaker sales in Canada," Statistics Canada said.

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