Canadian wholesale trade holds steady in January on lower auto sales

OTTAWA – The need for Canadian wholesale trade remained unchanged in January from December as lower auto sales cancelled out gains in other sectors, Statistics Canada said on Thursday.

Analysts in a Reuters poll had predicted a 0.2 percent rise in wholesale sales from December. In volume terms, sales fell by 0.2 per cent.

Sales in the motor vehicles and parts subsector came by 2.8 percent, the very first decline in 3 months. Sales of motor vehicles, which had hit an archive in December, sank by 4.9 per cent.

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Overall, sales were higher in four from seven subsectors, accounting for around 54 per cent of wholesale sales.

The machinery, equipment and supplies subsector gained 2.6 per cent while personal and household goods rose 0.5 percent to hit a record high.

Wholesale inventories edged up by 0.3 per cent, the first increase in three months.

? Thomson Reuters 2016