Wholesale activity starts off the year with a big splash
Alberta’s wholesale revenues surged to a record high in January
By Siddhartha Bhattacharya, ATB Economics 20 March 2023 about 1 min read
Seasonally adjusted revenues for wholesale traders in January jumped $1.0 billion (+11.2%) to reach $10.1 billion and surpassed the previous high set in October 2022 by 10.2%.
The gains were broad-based with four out of seven sub-sectors attaining new heights in the month. The aggregate gain, however, was led by an outsized $481 million (+217.0%) increase in wholesale revenues for farm products.
Revenues for Alberta’s wholesale traders were even more bullish, up $1.7 billion (+23.4%), compared to January 2022.
It was a good month for wholesale traders across the country with activity up in every province, with the exception of Prince Edward Island. With revenues in six provinces at record heights, national sales soared $4.5 billion (+5.5%)—the largest monthly gain since June 2020.
Note that inflation had little to do with the promising January report as national wholesale prices were up by only 0.5% (after accounting for seasonality) in the month.
Answer to the previous trivia question: Blue, rather than green, was the colour originally associated with St. Patrick.
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