-
Wholesale trade, April 2020
As the effect of the COVID-19 pandemic continued to spread throughout the economy, wholesale sales plummeted an unprecedented 21.6% to $49.8 billion in April, the lowest level since July 2013. All seven subsectors recorded lower sales for the first time since November 2008. In dollar terms, the motor vehicle and motor vehicle parts and accessories subsector contributed the most to the decline. Excluding this subsector, wholesale sales were down 14.2%. Wholesale sales volumes dropped 21.5%, a record monthly decline, to their lowest level since September 2009. Respondents reported that the COVID-19 pandemic pushed ... (full story)