REPORT: Factory & Wholesale Sales Fall, Adding To Concern Over Canadian Economy

Out of 7 wholesale subsectors, 5 saw a decline.

The string of bad economic data continues, adding to growing fears that Canada’s economy is slowing and even heading towards a possible recession.

Both factory & wholesale sales fell in November.

Wholesale sales fell by 1%, while factory sales were down by 1.4%.

Economic growth estimates were an anemic 1.3% for the 4th quarter of 2018.

According to BNN Bloomberg, “The weakness in wholesale was broad-based, and larger than what economists had been anticipating. Five of seven wholesale subsectors recorded declines in November. Economists had been anticipating a 0.3 percent drop for the month.”

Economists also were off on their predictions of factory sales. While they predicted a 1% drop, factory sales actually fell 1.4%.

Out of 21 manufacturing industries, 13 saw a fall in sales. The worst drop was in the refinery industry, which was down 14%.

This data comes as the Bank of Canada has lowered predictions for upcoming economic growth, and leaders like Ontario Premier Doug Ford warn that the Trudeau carbon tax could push Canada into a recession.

Spencer Fernando

Photos – YouTube/Twitter

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Joe
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Joe

Turning 60 in a few short months and going for early retirement…
The game board is constantly changing and at least I’ll get something out of this.
Figure at least if it changes again…I’ll be grandfathered in.

Frank
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Frank

Why this would surprise anyone is beyond me. We are heading in exactly the same direction as when his father was pm. He also crippled our economy while infuriating our allies. How anyone could have voted for this incompetent hairball is incomprehensible.

Eric Blair
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Eric Blair

But, or should I spell that Butt, the economy will grow itself from the heart out. Spoken by a man, and I am being more that generous with that the term man, who knows nothing about the economy nor anything else dealing with how the country ought to be run. Ford’s warning about the carbon tax could push us into a recession will by the time of the election in October be rewritten to say it did push us into a recession. That is the pocketbook issue that will win the election for Scheer.