- Manufacturing sales prior month 0.3%
- Manufacturing sales for July 2.5% versus 1.8% estimate
Canada Wholesale Trade statistics for July:
- Prior month 0.7%
- Wholesale trade 1.2% vs 1.3% estimate
Subsector gains: 4 of 7 subsectors rose, covering ~75% of wholesale trade
Motor vehicles & parts: +5.1%
Building materials & supplies: +2.7%
Year-over-year: +4.3% vs July 2024
Volume terms: +0.8% in July
Details of the manufacturing sales shows:
Transportation equipment sales rebounded +8.6% to $11.4B in July after four monthly declines.
Motor vehicles: +11.4%
Motor vehicle parts: +7.2%
Aerospace products and parts: +6.5%
Seasonal shutdowns in Ontario were less pronounced this year due to a broader production slowdown linked to new US tariffs.
Exports of motor vehicles and parts rose +6.7%.
Aerospace manufacturers showed stronger-than-usual July output, reflecting solid demand.
Petroleum and coal product sales increased +6.2% to $7.2B in July (after +11.6% in June).
Growth driven by ramp-up in refined petroleum production after April–May refinery shutdowns.
Sales in constant dollars: +4.5%.
Year-over-year sales: -12.7% despite recent gains.
Total inventories rose +0.8% to $121.2B in July.
Goods in process: +2.0%
Raw materials: +1.0%
Finished products: -0.5%
Machinery: +3.8%
Petroleum & coal products: +2.6%
Miscellaneous manufacturing: -10.3%
Inventory-to-sales ratio fell to 1.72 from 1.75 in June, indicating slightly quicker turnover.
Unfilled orders edged down -0.1% to $112.3B, with notable declines in miscellaneous manufacturing (-14.1%) and plastics & rubber (-9.0%).
The Bank of Canada will meet this week and announce its interest rate decision at 9:45 AM ET on Wednesday. The central bank is expected to cut rates by 25 basis points.
