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Wholesale Sales Start October On A Weak Note

CANADA DATA
  • The value of wholesale sales (ex petroleum, petroleum products, other hydrocarbons and oilseed and grain) fell a seasonally adjusted -1.1% M/M in the advance October release.
  • It follows a 0.4% rise in Sept and 1.8% rise in August.
  • “The decrease reflects lower sales in the machinery, equipment and supplies and the motor vehicle and motor vehicle parts and accessories subsectors.”
  • We’ll have a better idea of October broader sales activity tomorrow, with retail sales for September (including the Oct advance) and the advance manufacturing report both due.

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