Statistics Canada announced today that wholesale sales across Canada increased by 1.5 percent in April, to $49.3 billion. This marks two consecutive months of growth nationally, and extends a long-term growth trend dating to April 2008.
The news was particularly welcomed among the hard-hit manufacturing sector.
Much of this growth was attributed to sales of hard goods, rather than sales of crude oil or natural gas. Ontario posted its third consecutive increase in April, as did Quebec.
Statscan also reported that the national inventory-to-sales ratio fell from 1.23 in March to 1.21 in April. The inventory-to-sales ratio is a measure of the time in months required to exhaust inventories if sales were to remain at their current level.