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Statistics Canada says wholesale sales rose 1.8 per cent in January

OTTAWA — Statistics Canada reports wholesale sales rose 1.8 per cent to $65.2 billion in January, boosted by the motor vehicle and motor vehicle parts and accessories and the miscellaneous subsectors. Economists had expected a decline of 0.
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OTTAWA — Statistics Canada reports wholesale sales rose 1.8 per cent to $65.2 billion in January, boosted by the motor vehicle and motor vehicle parts and accessories and the miscellaneous subsectors.

Economists had expected a decline of 0.1 per cent for the month, according to financial markets data firm Refinitiv.

The January results come ahead of what is expected to be a sharp downturn in the economy due steps taken to slow the spread in COVID-19.

Statistics Canada says sales in the motor vehicle and motor vehicle parts subsector grew 3.0 per cent to $11.3 billion in January.

Meanwhile, the miscellaneous subsector climbed 3.1 per cent to $8.4 billion, boosted by the agricultural supplies industry which increased 10.5 per cent.

In volume terms, wholesale sales grew 1.7 per cent in January.

This report by The Canadian Press was first published March 23, 2020.

 

The Canadian Press