Canada’s wholesale trade in January hits record high
Statistics Canada said Monday that Canadian wholesale trade in January hit a record high of $59.1 billion led by enormous gains in the auto sector. Wholesale trade increased by 3.3 percent, the largest monthly percentage gain since November 2009. Statistics Canada said the motor vehicle and parts sub-sector recorded the largest gain in dollar terms in January, rising 17.1 per cent to $11.9 billion, the first increase in three months.
“There were higher imports and exports of motor vehicles and parts in January, and motor vehicle manufacturing sales increased for a second consecutive month,” Statistics Canada said.
Overall wholesale sales climbed to 0.3 percent in January, excluding the auto sector. In the personal and household goods sub-sector climbed 3 per cent to $8.5 billion, propelled by a 30.6 per cent increase in the home entertainment equipment and household appliance industry.
On the downside, sales of machinery, equipment and supplies slipped by 0.3 per cent, the sector’s first decline since September 2016. In the building material and supplies sub-sector, sales edged down 0.2 per cent to $8.0 billion, their first decline in four months.