Jueves, 23 Marcha, 2017

Canada Jan wholesale trade jumps 3.3 pct, hits new record

Canada Jan wholesale trade jumps 3.3 pct, hits new record Canadian January Wholesale Sales Rose 3.3%, Motor Vehicle Sales Surge
Manuel Armenta | 21 Marcha, 2017, 01:14

Canadian wholesale trade in January unexpectedly soared by 3.3 percent, its biggest monthly advance in more than seven years, on stronger sales of motor vehicles and parts, Statistics Canada data indicated on Monday.

For the first month of the year, wholesale trade rose by 3.3 per cent from December 2016 for the largest monthly percentage gain since November 2009, when wholesale sales expanded by 3.8 per cent.

The agency added that, in volume terms, wholesale trade grew by 3.4%, which experts say is likely to bolster overall economic growth in January.

Sales in the motor vehicles and parts sub-sector leapt by 17.1%, the biggest month-on-month gain since August 2005, breaking a two-month stretch of declines.

Factoring out the auto sector, wholesale sales increased by 0.3 per cent in January.

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 subsector, sales edged down 0.2 per cent to $8.0 billion, their first decline in four months.

Food sales rose 0.2% on the month with a 4.2% annual gain with sales of personal and household goods rose 3.0% on the month to give an 8.4% annual increase.