OTTAWA — Statistics Canada reports wholesale sales rose 1.8% to $65.2 billion in January, boosted by the motor vehicle and motor vehicle parts and accessories and the miscellaneous subsectors.
Economists had expected a decline of 0.1% for the month, according to financial markets data firm Refinitiv.
The January results come ahead of what is expected to be a sharp downturn in the economy due steps taken to slow the spread in COVID-19.
Statistics Canada says sales in the motor vehicle and motor vehicle parts subsector grew 3.0% to $11.3 billion in January.
Meanwhile, the miscellaneous subsector climbed 3.1% to $8.4 billion, boosted by the agricultural supplies industry which increased 10.5%.
In volume terms, wholesale sales grew 1.7% in January.News from © Canadian Press Enterprises Inc. 2020