- PolicyPolicy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: - G10 MarketsG10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts - Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- CommoditiesCommodities
Real-time insight of oil & gas markets
- CreditCredit
Real time insight of credit markets
- Data
- MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
- PolicyPolicy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: - G10 MarketsG10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts - Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- CommoditiesCommodities
Real-time insight of oil & gas markets
- CreditCredit
Real time insight of credit markets
- Data
- MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI DATA ANALYSIS:Canada Dec Wholesale Sales Decline But 4Q Up>
By Yali N'Diaye
OTTAWA (MNI) - Canadian wholesale sales decreased 0.5% in December
to C$63.0 billion, more than erasing the 0.3% gain recorded in November,
and bringing down the 12-month growth rate to 7.7% from 10.5%, data from
Statistics Canada showed Tuesday.
The weakness in December was reflected in the 0.9% drop in real
sales, in the widespread nature of the declines across five of seven
subsectors representing 65% of wholesale trade, as well as declines
across six provinces.
The weak performance was also reinforced by the 0.4-percentage
point downward revision to November's growth rate to 0.3%, while
October's growth rate was revised up just 0.1 point to 1.7%.
Along with lower sales, inventories increased 1.7%, their largest
gain since January 2015, following a 0.7% decrease in November.
As a result, the inventory-to-sales ratio rose to 1.31 in December
from 1.29 in November.
Despite the weak performance of the wholesale trade sector in
December, sales were still up 1.1% in the fourth quarter, with volumes
up 0.7%, although both marked a slowdown from the previous quarter.
The wholesale trade sector should therefore bring a positive
contribution to the fourth quarter GDP.
--WIDESPREAD DECLINES
On a sector basis, sales decreased across five categories, led by
personal and household goods (-3.3%) and miscellaneous sales (-2.4%).
Motor vehicles and parts were down 1.4% in December. Excluding the
latter category, sales were still down 0.4% on the month, erasing
November's 0.3% advance.
Food, beverage and tobacco was down 1.4%, and farm product down
7.8%.
--MACHINERY RECOVERS
On the bright side, machinery, equipment and supplies sales
increased 2.3% on the month, offsetting November's 2.2% decline, a
positive sign for investment activity.
For the fourth quarter, the category posted a gain of 3.5%.
Building material and supplies was the other sector to record an
increase in December (+2.7%).
--2017 STRONG OVERALL
For 2017 as a whole, wholesale sales were up 9.4%, the largest
annual increase since 1997, to a record high level of C$741.1 billion,
with gains in all seven major subsectors.
The robust 2017 performance owed to the strong showings in the
first and second quarters, when sales rose 3.9% and 2.5%, respectively.
Sales volumes rose by a record 7.7% in 2017 to a record level of
C$652.7 billion.
Machinery, equipment and supplies rose 10.8%, and was the largest
contributor to higher sales in 2017. It accounted for 19.7% of wholesale
trade.
Higher sales of machinery, equipment, and supplies coincided with
strong business investment gains in the first half of the year.
--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com
[TOPICS: MACDS$,M$C$$$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.