Newspaper article The Canadian Press

Statistics Canada Says Wholesale Sales Hold Steady at $57 Billion

Newspaper article The Canadian Press

Statistics Canada Says Wholesale Sales Hold Steady at $57 Billion

Article excerpt

Wholesale sales hold steady at $57 billion

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OTTAWA - Wholesale sales held steady at $57.0 billion in January as the first drop in sales of motor vehicles and parts in three months offset other gains, Statistics Canada said Thursday.

Economists had expected a gain of 0.2 per cent, according to Thomson Reuters.

In volume terms, overall sales fell 0.2 per cent for the month.

The machinery, equipment and supplies group led the gains in dollar terms as the sector increased 2.6 per cent to $11.5 billion.

However, sales in the motor vehicle and parts subsector fell 2.8 per cent to $11.0 billion, the first move lower in three months.

The wholesale sales report followed a better-than-expected reading on manufacturing sales in Canada on Wednesday that had raised hopes for the pace of growth in the first-quarter. …

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