Wholesale trade recovered in December after a November dip.
Wholesale sales, excluding petroleum and grain, rose 2.0% to $86.1 billion by the motor vehicle and motor vehicle parts subsector, which climbed 9.3% to $14.3 billion. Excluding automotive activity, overall wholesale sales increased a more modest 0.6%.
The automotive jump followed supply disruptions due to semiconductor shortages in October and November, and the sales remained 0.2% below year-earlier levels.
The miscellaneous subsector sales rose 6.8%. Within it, mineral, ore and precious metal wholesalers posted an 85.6% surge to a record $1.5 billion, reflecting elevated prices and demand for precious metals.
Food, beverage and tobacco wholesalers saw sales decline 3.4% in December, pulled down by food and beverage categories. Despite the monthly setback, it remained up 3.7% from a year earlier.
Regionally, Ontario led gains with a 3.6% increase to $44.0 billion. Quebec followed with a 3.7% rise, driven by machinery, equipment and personal goods. Alberta moved in the opposite direction, with sales down 1.6% as building materials and supplies weakened.
Inventories edged up 0.6% to $136.8 billion. The inventory-to-sales ratio slipped to 1.59 months from 1.61 in November, indicating wholesalers are clearing stock slightly faster than before. Rising inventories in automotive and building materials point to continued caution in sectors sensitive to interest rates and construction demand.
For 2025 overall, wholesale sales reached $1.024 trillion, up 2.9% from 2024. The figures suggest steady expansion rather than acceleration, with much of the year’s growth anchored in essential goods rather than discretionary categories.