The recent statistics issued by statistics Canada where it is claimed that country’s total sales of wholesale is likely to hit the mark of $53.1 billion in 2014, up 0.2% from the previous year.
Among the entire economic sector, the machinery and equipment segment registered the highest revenues in the period of August showing total gains of $11.2 billion with a growth rate of 3.6%, which is among one of the significant industries, claimed StatsCan. However, the leading industry that made a heavy contribution in wholesale revenues was not other than computer and communications equipment and supplies exemplified the raise in growth by 5.7% which is the consecutive positive growth for the fourth time during 5 months. While the turned down in growth pace observed last two months. Statsitics Canada stated, the sectors that demonstrate positive growth are comprised of construction, industrial machinery, forestry, equipment and supplies market and mining- representing +2.1%, whereas the machinery and equipment industry related to garden, farm and lawn portrayed +5.1% growth.
On the other hand, the division of automobile and spare parts posed negative growth of 3.7% to generate the volume of $9.2 billion in revenues, counteracting the highest growth of 4.5% observed in recent July, said StatsCan. The international trading of above subsector also goes down in August.
As far as regions are concerned, the sales are clearly improved particularly in four territories during the August. These regions contributed a total split of over 67% in total wholesale sales across the Canada. Ontario has experienced acceleration for the fifth time in the year representing 0.5% to make $26.0 billion in August. However, the decline was there in the automobile and vehicles division, according to statistics Canada. The major sector to contribute heavily was again the same machinery and equipment sector in August.
The sales uplifted in Newfoundland and Labrador by 10.6% to reach $422 million, while growth went high by 1.1% and raised the total sales to $2 billion in Saskatchewan. Though, the machinery, equipment and supplies were the leading sector amongst all, confirmed StatsCan. Despite of growth recorded in early three back to back months, the sales dropped 0.5% to form $9.6 billion sales in Quebec. In the cases of British Columbia, New Brunswick, Scotia and Prince Edward Island , the growth was decrease by 0.6%, -1.7%, -0.9% and -4.25 in August respectively.