Statistics Canada reports wholesale sales up 0.3% in February
By CP STAFFIndustry Manufacturing autos Canada manufacturing
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%.