Q3 Industry Update - Canadian Wholesale Sector
Canada’s manufacturing activity, a demand indicator for the wholesale sector, gained momentum in July 2020 as manufacturing output, new orders, and employment all increased, according to IHS Markit. Manufacturers generally reported a phased restart of production activities and an influx of new business. New orders rose for the first time since February, but at a subdued pace amid a continued downturn in export orders. Reduced backlogs of work suggest excess production capacity remains an issue. Manufacturers also reported lower inventories for production materials and finished goods as they tried to improve cash flow and adjust inventories to match slower demand conditions. As a whole, manufacturers were optimistic that production volumes would increase over the next 12 months, but were concerned about the possibility of a second wave of the pandemic and its potential effect on the global economy.
"Canada Wholesale Trade Climbs 18.5% in June"
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