Canadian wholesale sales up slightly: Statistics Canada

Statistics Canada says wholesale sales rose 0.1% to $63.3 billion in January, helped by the food, beverage and tobacco sub-sector, and the machinery, equipment and supplies sub-sector.

The agency says sales were up in four of seven sub-sectors, accounting for 66% of total wholesale sales.

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Sales in the food, beverage and tobacco sub-sector rose 3.1% to $12.3 billion in January, following a 1.8% decline in December.

The machinery, equipment and supplies sub-sector climbed 1.6% to $13.1 billion.

Offsetting the gains, the building material and supplies sub-sector fell 4% to $8.9 billion, the first drop since August 2017.

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Motor vehicle and parts fell 1.6% to $11.6 billion, the lowest level since June 2017.

“The softness in this area mirrors what we’ve seen in the manufacturing shipments data as well,” notes Andrew Grantham of CIBC Economics in a release. “Overall though, a fairly so-so release that shouldn’t move markets or alter tracking forecasts for monthly GDP.”

Staff, with files from The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.