Canadian Wholese Sales Drop Unexpectedly by 0.8%

Statistics Canada says wholesale sales fell 0.8 per cent to $62.8 billion in February.

The agency says it was the largest downward move and the second monthly drop since September 2017.

Sales fell in four of the seven subsectors tracked, representing 64 per cent of total wholesale sales.

In volume terms, wholesale sales fell 0.9 per cent.

The miscellaneous subsector posted the largest drop in dollar terms in February as it fell 3.7 per cent to $7.7 billion. Sales in the motor vehicle and parts subsector fell 2.1 per cent to $11.3 billion.

Meanwhile, sales in the personal and household goods subsector rose 0.8 per cent to $8.7 billion.

Via Globe and Mail

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