The one segment of the provincial economy that seems immune to just about any external influence – whether that is tariffs or poor weather conditions – is the wholesale community. They have been one of the best performers we’ve had for the last two years or so.
And they show no signs of changing direction. August figures have just come in and they show us among the provinces continuing to post growth in the revenue line. We were up about half a point in August at a time when the national figure was in negative territory. That gives us a year-over-year improvement of 4.6 per cent, again ahead of the national results.
StatsCan says the big declines came in the automotive sector. Given that we don’t do much in the way of building cars or supplying parts for the industry, we were largely immune from the broad retrenchment in the motor vehicle industry. What we were seeing, though, was plants managing to catch up a little as the backlog of unfilled orders receded slightly in the month and inventories declined.