Canada’s Wholesale Trade Ends 2023 Strong

Canadian wholesale trade experienced a slight softening in December, but ended the year on a positive note with rising sales in personal and household goods. Wholesale sales rose, but not as much as anticipated. Sales volume increased, continuing a positive trend. Overall, the wholesale sector saw a year-over-year increase. Some wholesale sectors had mixed performance, with personal and household goods seeing growth while motor vehicles, parts, and accessories saw a decline in sales. Inventory levels rose, but the wholesale trade and petroleum sector declined. Manufacturing sales also declined, but there are expectations for a recovery in the economy. Retail sales data for December and official industry-level GDP data will be released soon. The market is expected to remain stable in the short term, with potential growth in the retail sector and a recovery in the economy in the final quarter of 2023.