Wholesale sales up 0.7% in Feb. despite rail blockades and COVID-19
In the absence of the blockades and COVID-19, Statistics Canada says seasonally adjusted wholesale sales would have been closer to a 1.5% cent gain
OTTAWA – Statistics Canada reports wholesale sales rose 0.7% to $67.5 billion in February, even as sales were hurt by rail blockades and the early effects of COVID-19.
Economists had expected a decline of 0.4%, according to financial markets data firm Refinitiv.
In the absence of the blockades and COVID-19, Statistics Canada says seasonally adjusted wholesale sales would have been closer to a 1.5% cent gain.
Sales in the motor vehicle and motor vehicle parts and accessories subsector gained 4.2% in February, to $11.9 billion.
Excluding this subsector, Canadian wholesale sales were down 0.1 per cent.
Wholesale sales increased 0.6% in volume terms.
