Motor vehicle and motor vehicle parts and accessories subsector fell by a whopping 64.7 per cent in April, in a June 18, 2020 story. (Photo by THE CANADIAN PRESS)

Statistics Canada says wholesale sales posted record plunge in April

Lowest level since September 2009

OTTAWA — Statistics Canada says wholesale sales fell by a record 21.6 per cent to $49.8 billion in April, led by a plunge in the motor vehicle and motor vehicle parts and accessories subsector due to the pandemic.

The federal agency says wholesale sales fell to their lowest level since July 2013 as all seven subsectors recorded lower sales for the first time since November 2008.

Economists on average had expected a drop of 12.6 per cent, according to financial markets data firm Refinitiv.

The motor vehicle and motor vehicle parts and accessories subsector fell by a whopping 64.7 per cent in April following a 21.7 per cent drop in March.

Excluding the subsector, wholesale sales were down 14.2 per cent.

Wholesale sales volumes dropped a record 21.5 per cent to their lowest level since September 2009.

This report by The Canadian Press was first published June 18, 2020.

economy

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

Calgary singer Erin Ross to be featured at ‘Entertainment in the Park’ July 15th

Roots/blues musician can hardly recall a time when she wasn’t passionate about performing

PHOTOS: Despite some soggy weather, fireworks capped off Canada Day in Stettler

The skies above West Stettler Park were lit up to help celebrate the nation’s birthday

Red Deer remains at two active COVID-19 cases

Alberta confirms 94 new cases over past two days

Stettler Board of Trade continues to help businesses navigate challenging times

‘Christmas in July’ is another current means of encouraging folks to ‘shop local’

A look back – marking the opening of the new Town Office on the corner of Main Street and 49th Ave. in 1966

The opening was attended by deputy premiere A. J. Hooke, who acted as the main speaker at the ceremony

PODCAST: Black Lives Matter in central Alberta Part 2

More insight into the Black Lives Matter movement of central Alberta

PODCAST: Black Lives Matter in central Alberta Part 2

More insight into the Black Lives Matter movement of central Alberta

Le Chateau starts work on producing 500,000 hospital gowns in Canada

Another Canadian company pivots to produce PPE

Canadian engineer released from Egypt needs treatment, family says

Canadian engineer released from Egypt needs treatment, family says

Inquiry into mass shooting in Nova Scotia facing delays due to ‘technicalities’

Inquiry into mass shooting in Nova Scotia facing delays due to ‘technicalities’

Quebec tractor driver charged after accident kills three children, injures seven

Quebec tractor driver charged after accident kills three children, injures seven

Most Read