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Statistics Canada reports wholesale sales up 0.3% in February

Gains were led by the motor vehicle and motor vehicle parts and accessories subsector.


OTTAWA—Statistics Canada says wholesale sales posted their third consecutive monthly gain as they increased 0.3% to $63.7 billion in February.

Economists on average had expected a gain of 0.1% for the month, according to Thomson Reuters Eikon.

Statistics Canada says wholesale sales gains were led by the motor vehicle and motor vehicle parts and accessories subsector, which rose 9.5% to $11.6 billion.

Excluding the subsector, wholesale sales fell 1.5%. Only two of seven subsectors advanced.

The building material and supplies subsector fell 5.3% to $8.8 billion, while the machinery, equipment and supplies subsector dropped 1.3% to $13.1 billion in February.

Wholesale sales in volume terms increased 0.3%.

News from © Canadian Press Enterprises Inc. 2016

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