Wholesale trade, June 2024
Released: 2024-08-15
$82.4 billion
June 2024
-0.6% 
(monthly change)
$463.8 million
June 2024
-2.5%
(monthly change)
$99.7 million
June 2024
-6.8%
(monthly change)
$1,209.4 million
June 2024
-0.5%
(monthly change)
$766.3 million
June 2024
-5.7%
(monthly change)
$14,477.6 million
June 2024
-0.4%
(monthly change)
$43,018.5 million
June 2024
-1.1%
(monthly change)
$1,966.0 million
June 2024
-0.7%
(monthly change)
$3,446.2 million
June 2024
1.3% 
(monthly change)
$9,092.0 million
June 2024
-1.0%
(monthly change)
$7,783.5 million
June 2024
2.2%
(monthly change)
x
June 2024
x
(monthly change)
$29.4 million
June 2024
-20.7%
(monthly change)
x
June 2024
x
(monthly change)
Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) fell 0.6% to $82.4 billion in June. Sales declined in five of the seven subsectors, with the largest decline coming from the motor vehicle and motor vehicle parts and accessories subsector. Wholesale sales were 1.0% higher in June, compared with the same month one year earlier.
In volume terms, wholesale sales decreased 0.9% in June.
Chart 1
Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and oilseed and grain) decrease in June
Motor vehicle and motor vehicle parts and accessories lead sales declines in June
For a second consecutive month in June, sales in the motor vehicle and motor vehicle parts and accessories subsector (-2.6% to $14.2 billion) drove declines in wholesale trade. As in May, sales fell in all three industry groups in June with the largest decline coming from motor vehicle merchant wholesalers (-2.7% to $11.5 billion).
Sales in the machinery, equipment and supplies subsector decreased as well for the second consecutive month, down 0.5% to $17.9 billion in June, as the farm, lawn and garden machinery and equipment industry group registered a large decline (-12.7% to $2.5 billion).
Sales decrease in eight provinces, led by Ontario
In June, eight provinces reported lower wholesale sales, led by Ontario (-1.1%) and Alberta (-1.0%). In contrast, British Columbia (+2.2%) posted the largest increase.
Wholesale sales in Ontario fell 1.1% to $43.0 billion in June, registering its fifth monthly decline since the beginning of the year. Sales dropped in five of the seven subsectors, mainly driven by the building material and supplies (-5.7% to $4.7 billion) and motor vehicle and motor vehicle parts and accessories (-1.8% to $10.2 billion) subsectors.
Sales in Alberta declined 1.0% to $9.1 billion in June, the second consecutive monthly decline, mainly due to lower sales in the miscellaneous (-9.9% to $994.9 million) and machinery, equipment and supplies (-2.4% to $3.1 billion) subsectors.
On the other hand, in British Columbia, wholesale sales rose 2.2% to $7.8 billion in June, on higher sales in the miscellaneous (+12.8% to $1.2 billion) and building material and supplies (+5.7% to $1.9 billion) subsectors.
Inventories fall in June
Wholesale inventories edged down 0.1% to $126.8 billion in June, following a 1.2% increase in May, and remain at high levels.
In June, four out of the seven subsectors recorded declines, led by the machinery, equipment and supplies subsector (-0.7% to $38.8 billion), as three of its four industry groups posted declines in inventories. Declines were also reported in the personal and household goods subsector (-0.5% to $20.3 billion), where three out of its five industry groups declined.
Inventory gains in the building material and supplies (+0.8% to $22.2 billion) and miscellaneous (+1.1% to $15.1 billion) subsectors moderated the drop in June.
The inventory-to-sales ratio rose from 1.53 in May to 1.54 in June. This ratio is a measure of the time (in months) required to exhaust inventories if sales were to remain at their current levels.
Wholesale sales grew in the second quarter of 2024
In the second quarter, wholesale sales increased by 0.7% to $249.3 billion, primarily as a result of higher sales in April.
Leading the increase in sales in the second quarter was the personal and household goods subsector, up 2.3% to $37.0 billion, followed by the machinery, equipment, and supplies subsector, up 1.5% to $54.0 billion.
Gains in the second quarter were dampened by lower sales in the building materials and supplies subsector, which decreased 2.4% to $34.6 billion.
Sales in the second quarter of 2024 were 1.4% above those from the same quarter last year.
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Note to readers
Wholesale (sales and inventories) values exclude petroleum, petroleum products, and other hydrocarbons and oilseed and grain unless otherwise stated.
Petroleum, petroleum products, and other hydrocarbons and oilseed and grain data continue to be available in data tables but will be excluded from monthly analysis until historical data are available.
All data in this release are seasonally adjusted and expressed in current dollars unless otherwise noted.
Seasonally adjusted data are data that have been modified to eliminate the effect of seasonal and calendar influences to allow for more meaningful comparisons of economic conditions from period to period. For more information on seasonal adjustment, see Section 2: Issues related to analysis and interpretation.
Trend-cycle estimates are included in selected charts as a complement to the seasonally adjusted series. These data represent a smoothed version of the seasonally adjusted time series (see Section 1: Context, definitions and terminology) and provide information on longer-term movements, including underlying changes in direction in the series. For information on trend-cycle data, see Trend-cycle estimates – Frequently asked questions.
Both seasonally adjusted data and trend-cycle estimates are subject to revision as additional observations become available. These revisions could be large and could even lead to a reversal of movement, especially for reference months near the end of the series or during periods of economic disruptions.
Total wholesale sales expressed in volume are calculated by deflating current dollar values using relevant price indexes. The wholesale sales series in chained (2012) dollars is a chained Fisher volume index, with 2012 as the reference year. For more information, see the publication "Deflation of wholesale sales."
The Monthly Wholesale Trade Survey covers all industries within the wholesale trade sector, as defined by the North American Industry Classification System (NAICS), with the exception of business-to-business electronic markets, and agents and brokers (NAICS 419).
Real-time data tables
Real-time data tables 20-10-0019-01, 20-10-0020-01 and 20-10-0005-01 will be updated soon.
Annual Revision
With this release, unadjusted monthly wholesale trade data were revised back to January 2023, while seasonally adjusted data were revised back to January 2020. Data in volume terms were also revised back to January 2020. Factors influencing revisions include the late receipt of respondent information; the correction of information in the data provided; the replacement of estimated figures with actual values (once available); the reclassification of companies within, into and out of the wholesale trade sector; and updates to seasonal factors.
Notable revisions in both sales and inventories for petroleum, petroleum products, and other hydrocarbons merchant wholesalers (NAICS 412) were incorporated with this release at the start of the time series for this industry in 2023.. Revisions stem primarily from additional responses received for this time period coupled with corresponding improved imputations.
Next release
Wholesale trade data for July will be released on September 13.
Products
The product "Monthly Wholesale Trade Survey: Interactive Tool" (71-607-X) is available online. This product is based on the data published in the tables of the Monthly Wholesale Trade Survey: 20-10-0074-01, 20-10-0076-01 and 20-10-0003-01.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
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