Wholesale revenues climb to a new peak
Year-to-date revenues were higher across every sub-sector
By Siddhartha Bhattacharya, ATB Economics 24 January 2023 less than a minute
Alberta’s wholesale activity rose for the second straight month in November.
Seasonally adjusted revenues for wholesale traders ticked up by $90 million (+1.0%) to reach $9.3 billion, the highest level on record.
The monthly increase came on the back of higher motor vehicles and parts (+3.8%) and food, beverage and tobacco (+1.6%) sales, which offset a pullback in building material and supplies (-1.2%) revenues.
Year-to-date (YTD) revenues were higher across every sub-sector and pushed Alberta’s aggregate sales up by $17.1 billion (+21.1%) relative to the first eleven months of 2021.
Nationally, YTD wholesale revenues stood $100.8 billion (+12.7%) higher through November. Saskatchewan (+50.4%), followed by Alberta, led the gains across provinces on a percentage basis.
Escalating prices of commodities are partly responsible for the strong increases in wholesale revenues seen across the country. Prices of Canadian wholesale goods rose for seven consecutive months and were up by almost 10% YTD through November 2022.
Answer to the previous trivia question: Zellers began operations in 1931.
Today’s trivia question: In what year did the Canadian dollar hit its all-time low against the US dollar?