Wholesalers sold $55.4 billion worth of goods and services in December, up 2.5% from November and 11.2% higher than in December 2013. Excluding the automotive sector, wholesale sales were up 9.0% from December 2013.
In terms of volume, wholesale sales were up +2.4% in December from November.
Annualized wholesale sales grew in nine provinces. Saskatchewan (+25.6%) led the way, followed by Nova Scotia (+17.8%) and Ontario (+13.9%). Quebec’s wholesale sales were up 5.3% from December 2013. Prince Edward lsland sustained the only loss (-2.5%).
Wholesalers’ inventories in December increased 1.0% from November to $69.1 billion, their 12th consecutive monthly gain and their highest level on record. They were up 13.1% from December 2013. Gains were recorded in six of the seven sectors. The largest monthly increase, in dollar terms, was accounted for by the machinery, equipment and supplies sector (+1.4%), followed by the building materials and supplies industry, also at (+1.4%). The inventory-to-sales ratio was 1.25 in December, down from 1.26 in November. The ratio is a measure of the time in months required to exhaust inventories if sales were to remain at their current level.
Wholesale sales of building materials and supplies were $8.1 billion in December, up 3.6% from November and a 17.8% increase from December 2013. Annualized sales have been up in every month this year. Inventories were valued at $12.7 billion, up 1.4% from November and 12.8% higher than in December 2013.
Wholesale sales of electrical, plumbing, heating and air-conditioning equipment and supplies stood at $2.7 billion in December, up 8.5% from November and 27.1% higher than in December 2013. Inventories were valued at $3.2 billion, down 0.1% from November but 6.8% higher than in December 2013.
Wholesale sales of metal service centres were $1.7 billion in December, down 1.3% from November but an increase of 13.9% from December 2013. Inventories were valued at $3.9 billion, up 2.9% from November and a 23.1% increase from December 2013.
Wholesale sales of lumber, millwork, hardware and other building supplies were $3.7 billion in December, up 2.4% from November and a 13.5% increase from December 2013. Inventories were valued at $5.5 billion, up 1.2% from November and a 9.8% increase over December 2013.