Wholesale sales falls 1.2% in September: StatsCan
Machinery, equipment and supplies subsector posts largest drop, down by 4% to $10.9 billion.
OTTAWA — Statistics Canada says the value of wholesale sales fell 1.2% in September to $56 billion.
Economists had expected a gain of 0.4% from the previous month, according to Thomson Reuters.
The drop follows increases in four of the previous five months.
Statistics Canada says wholesale sales fell in five of the seven subsectors it tracks, led by the machinery, equipment and supplies and the miscellaneous subsectors.
The machinery, equipment and supplies subsector posted the largest drop in dollar terms for the month as it fell 4% to $10.9 billion, its lowest level since April. The miscellaneous subsector fell 3.1% to $7 billion.
Wholesale sales in volume terms fell 1.5% in September.News from © Canadian Press Enterprises Inc. 2016