Statistics Canada reports wholesale sales up 0.6% in January
The motor vehicle and parts subsector saw the largest decline in dollar terms in January
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OTTAWA – Statistics Canada says wholesale sales climbed 0.6 per cent to $63.5 billion in January to mark a second consecutive monthly gain.
Economists had expected an increase of 0.5 per cent, according to Thomson Reuters Eikon.
Wholesale sales rose in five of the seven subsectors tracked by Statistics Canada, led by the machinery, equipment and supplies subsector and the personal and household goods subsector.
Sales in the machinery, equipment and supplies subsector rose 1.9 per cent to $13.3 billion, while the personal and household goods subsector rose 2.5 per cent to $8.9 billion.
The motor vehicle and parts subsector saw the largest decline in dollar terms in January as it fell 2.1 per cent to $10.6 billion.
Wholesale sales in volume terms increased 0.7 per cent in January.