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August 19, 2020WHOLESALE TRADE, JUNE 2020 MONTH-OVER-MONTH
MONTH-OVER-MONTH
In Nova Scotia June 2020, on a seasonally adjusted basis
- month-over-month wholesale trade increased 17.7 per cent to $925.5 million over May 2020.
- year-over-year wholesale trade decreased 7.2 per cent over June 2019.
In Canada June 2020, on a seasonally adjusted basis
- month-over-month wholesale trade increased 18.5 per cent to $62.1 billion over May 2020.
- year-over-year wholesale trade decreased 2.4 per cent over June 2019.
QUARTER over QUARTER
In Nova Scotia 2020Q2, on a seasonally adjusted basis
- quarter-over-previous-quarter wholesale trade decreased 13.5 per cent to $2.4 billion over 2020Q1.
- quarter-over-same-quarter-last-year wholesale trade decreased 11.4 per cent over 2019Q2.
In Canada 2020Q2, on a seasonally adjusted basis
- quarter-over-same-quarter-last-year wholesale trade decreased 14.5 per cent to $163.9 billion over 2020Q1.
- quarter-over-same-quarter-last-year wholesale trade decreased 14.5 per cent over 2019Q2.
BY PROVINCE
On a month over month basis, seasonally adjusted wholesale trade was up 18.5 per cent nationally. All provinces reported monthly increases in wholesale trade, with Ontario (27.9 per cent) reporting the largest gain in percentage terms. Nova Scotia reported an increase (17.7 per cent) over the previous month. Newfoundland and Labrador reported the smallest gain (0.7 per cent) over the previous month.
On a year-over-year basis, seasonally adjusted Wholesale Trade was down 2.4 per cent nationally. Three provinces reported year-over-year increases in wholesale trade, with Saskatchewan (3.8 per cent) reporting the largest gain in percentage terms. Nova Scotia reported a decline (7.2 per cent) over the previous year. Compared to June 2019 Newfoundland and Labrador reported the largest decline (18.3 per cent).
On a quarter over previous quarter basis, seasonally adjusted Wholesale Trade was down 14.5 per cent nationally. Saskatchewan (1.2 per cent) was the only province reporting a 2020Q2 over a 2020Q1 increase in wholesale trade in percentage terms. Nova Scotia reported a decline (13.5 per cent) over the previous quarter. Compared to 2020Q1, Newfoundland and Labrador reported the largest decline (20.1 per cent).
On a quarter over the same quarter last year basis, seasonally adjusted Wholesale Trade was down 14.5 per cent nationally. Saskatchewan (4.9 per cent) was the only province reporting a 2020Q2 over a 2019Q2 increase in wholesale trade in percentage terms. Nova Scotia reported a decline (11.4 per cent) over the same quarter last year. Compared to 2019Q2, Ontario reported the largest decline (20.4 per cent).
NOVA SCOTIA SECTORS
Year-Over-Year
Nova Scotia (Jun 2020 vs Jun 2019), total wholesale trade year-over-year decreased 7.2 per cent ($71.3 million) over the same month last year.
- Food, beverage with a 36% share of Wholesale Trade decreased 12.1 per cent ($46.0 million)
- Motor vehicle and parts with a 12% share decreased 33.2 per cent ($57.0 million)
- Building material with a 21% share increased 9.0 per cent ($15.8 million)
- Machinery, equipment with a 18% share increased 3.9 per cent ($6.2 million)
- Miscellaneous wholesalers with an 8% share increased 29.2 per cent ($17.1 million)
- Other wholesalers with a 5% share decreased 13.6 per cent ($7.4 million)
Quarter-over-quarter
Nova Scotia 2020Q2 vs 2019Q2, total wholesale trade quarter-over-quarter decreased 13.5 per cent ($371.6 million) over the same quarter last year.
- Food, beverage with a 35% share decreased 11.3 per cent ($106.7 million)
- Motor vehicle and parts with a 11% share decreased 48.7 per cent ($246.1 million)
- Building material with a 21% share decreased 4.8 per cent ($24.8 million)
- Machinery, equipment with a 19% share decreased 0.1 per cent ($0.3 million)
- Miscellaneous wholesalers with a 9% share increased 17.0 per cent ($30.3 million)
- Other wholesalers with a 5% share decreased 15.6 per cent ($24.0 million)
WHOLESALE INVENTORIES
“Inventories continue their descent in June
Wholesale inventories declined 0.7% to $90.6 billion in June. Four of seven subsectors recorded decreases, accounting for 43% of total wholesale inventories.
The personal and household goods subsector posted the largest decline, down 4.7% to $15.7 billion as decreases were seen in all six industries. The toiletries, cosmetics and sundries industry led the decline (-18.3% to $967 million), followed by the pharmaceuticals and pharmacy supplies industry (-2.5% to $7.3 billion). These two industries combined contributed roughly half of the subsector's decline in inventories.
The inventory-to-sales ratio continued to decrease, dropping to 1.46 in June from 1.74 in May—more in line with pre-COVID-19 ratios. All subsectors recorded decreases in their inventory-to sales ratios, with the motor vehicle and motor vehicle parts and accessories subsector being the main contributor to the inventory-to-sales ratio decline.”
Statistics Canada
STATISTICS CANADA QUOTES
COVID-19 recovery and impacts
"Wholesale sales rose by $9.7 billion as large parts of the economy reopened. Sales in June were $2.5 billion below February's pre-COVID-19 levels, an improvement from May when sales were $12.2 billion below February. The wholesale sector recorded its highest-ever sales level in February 2020, before the pandemic generated a $15.1 billion drop in monthly output over the course of two months. Since then, more than 80% of the drop in monthly sales caused by COVID-19 has been recouped, and June sales were 3.9% below February's record high."
"Provincially, four provinces' June sales were higher than their pre-COVID-19 level: Nova Scotia, New Brunswick, Manitoba and Saskatchewan."
Reference Tables
20-10-0074-01 Seasonally adjusted Wholesale sales by province
20-10-0074-01 Nova Scotia seasonally adjusted Wholesale trade by NAICS sectors
20-10-0076-01 Canada seasonally adjusted Wholesale Trade Inventory
Citations
Statistics Canada. Table 20-10-0074-01 Wholesale trade, sales (x 1,000)
Statistics Canada. Table 20-10-0076-01 Wholesale Trade Inventories (x 1,000)
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