Healthy gains continue for wholesale trade
Wholesale trade sales in Alberta grew $10 billion over the first eleven months of 2021
By Rob Roach, ATB Economics 25 January 2022 1 min read
Alberta hit a new peak for wholesale trade as seasonally adjusted revenues climbed higher for the fourth consecutive month to reach $8.3 billion in November.
The $891 million (+12%) monthly gain was driven by the sales of machinery, equipment and supplies, which posted an increase of $354 million (+16%) after a sluggish start to the year. This was followed by food, beverage and tobacco sales, which bounced back sharply (+15%) after a short-lived decline experienced in October.
On an unadjusted basis, wholesale trade sales in Alberta grew $10 billion (+14%) over the first eleven months of 2021, relative to the same period in 2020.
Nationally, wholesale trade jumped $2.6 billion (+3.5%) in November, despite an estimated total loss of $600 million caused by the severe flooding and transportation disruptions in British Columbia.
Canadian year-to-date wholesale revenues were almost $100 billion (+14%) higher compared to where things were at in November 2020, supported by a 6.3% rise in prices. Regionally, Ontario and Quebec drove two-thirds of the aggregate increase with strong housing demand bolstering the sales of building material and supplies.
Answer to the previous trivia question: The House of Bijan on Rodeo Drive is considered the most expensive store in the world.
Today’s trivia question: How many Federal Reserve Banks are there in the U.S. Federal Reserve System?