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July 23, 2018WHOLESALE TRADE, MAY 2018 Month-over-month
The month-over-month index of wholesale trade illustrates the volatility of Nova Scotia seasonally adjusted wholesale trade in comparison to the national index. Year-to-date comparisons are more indicative of economic conditions for such volatile indicators.
In Nova Scotia May 2018, on a seasonally adjusted basis
- month-over-month Wholesale Trade increased 9.0 per cent to $962.3 million.
- year-over-year Wholesale Trade increased 3.7 per cent over May 2017.
- year-to-date basis (Jan-May 2018), Wholesale Trade increased 4.8 per cent over Jan-May 2017.
In Canada May 2018, on a seasonally adjusted basis
- month-over-month Wholesale Trade increased 1.2 per cent to $63.7 billion.
- year-over-year Wholesale Trade increased 4.7 per cent over May 2017.
- year-to-date basis (Jan-May 2018), Wholesale Trade increased 5.2 per cent over Jan-May 2017.
By Province
On a month over month basis, seasonally adjusted wholesale trade was up 1.2 per cent nationally. Eight provinces reported monthly increases in wholesale trade, with Prince Edward Island reporting the largest gain, in percentage terms. Nova Scotia reported aa 9.0% increase over the previous month. Wholesale trade declined in Ontario and New Brunswick, month over month.
On a year-over-year basis, seasonally adjusted wholesale trade was up in eight provinces. Compared to May 2017, Prince Edward Island (+26.4 per cent) reported the strongest growth in percentage terms, followed by British Columbia (+9.0 per cent). Nova Scotia reported an increase of 3.7% over the same period last year.
On a year-to-date basis, seasonally adjusted wholesale trade was up in eight provinces. Prince Edward Island reported the strongest growth (+32.5%), in percentage terms, while Newfoundland and Labrador, and Saskatchewan reported declines. YTD growth for Nova Scotia was +4.8%.
Nova Scotia Sectors
Statistics Canada now releases seasonally adjusted wholesale trade data by sector at the provincial level. As there has been significant volatility in recent wholesale values for Nova Scotia. Year-to-date comparisons are more indicative of economic conditions for volatile indicators and seasonally adjusted wholesale values will also smooth out the indicator.
In Nova Scotia (Jan-May 2018), Total: wholesale trade year-to-date increased 4.8% ($201.5 million) over the same period last year.
- Food, beverage with a 35% share of Wholesale Trade decreased 0.5% (-$7.0 million).
- Motor vehicle and parts with a 16% share decreased 0.0% (-$0.3 million).
- Building material with a 20% share increased 8.0% ($63.5 million).
- Machinery, equipment with a 16% share increased 9.2% ($60.1 million).
- Miscellaneous wholesalers with a 7% share increased 18.6% ($48.8 million).
STATISTICS CANADA QUOTE
"Sales in Nova Scotia rose 9.0% to $962.3 million, driven by gains in the food, beverage and tobacco subsector (+38.8%)."
REFERENCES
Statistics Canada: CANSIM Table: 20-10-0074-01 (formerly CANSIM 081-0011)
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