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Alberta wholesale sector sees biggest annual decline in CanadaWednesday, October 21, 2015 > 10:34:59
Alberta experienced the biggest annual decline among the provinces in wholesale sales in August, says Statistics Canada.
It said Tuesday that sales were off 7.7 per cent from a year ago to $6.6 billion in the province. They were also down 0.9 per cent from July.
Sales decreased for the eighth time in nine months in Alberta, with the machinery, equipment and supplies subsector the largest contributor to the August decline.
“Like other segments of our economy, wholesale activity in Alberta has ground to a halt,” said Nick Ford, economist with ATB Financial.
‘The yearly decline in wholesale trade is a telling feature of current retail conditions. Alberta has seen its wholesale numbers dwindle, due in part to the negative sentiment clouding our retail sector.”
Nationally, wholesale sales edged down 0.1 per cent to $55.3 billion in August, Statistics Canada said. Year-over-year sales were up 3.8 per cent across the country.