Wholesale revenues retreat across the board
Sales were down in July but still better than last year
By Siddhartha Bhattacharya, ATB Economics 19 September 2022 1 min read
Alberta’s wholesale activity took a step back for the first time in five months.
Seasonally-adjusted revenues for wholesale traders declined by $260 million (-2.9%) in July but remained about $1.5 billion (+20.6%) above the same month last year.
Sales across every sub-category contracted, led by miscellaneous (-9.5%) and building material and supplies (-3.9%).
However, year-to-date sales over the first seven months of 2022 were $11.0 billion (+22.1%) higher than over the same period in 2021. Compared to other provinces, Alberta’s year-to-date gain (in dollars) was only second in line after Ontario.
While Canadian sales also posted a monthly decline, they were $64.2 billion (+13.0%) higher on a year-to-date basis compared to 2021.
Rising commodity prices continue to play a big role in boosting these provincial and national sales figures. National wholesale prices rose 11% over the first seven months of the year.
Answer to the previous trivia question: Headlights for cars were invented in the 1880s around the time the automobile itself was invented.
Today’s trivia question: How many communities in Canada are economically reliant on at least one natural resource sector (not including agriculture)?