Statistics Canada says wholesale sales down 1.7% at $85.6B in February - Business News - Castanet.net

Photo: The Canadian Press

Vehicles are seen in a parking lot at the General Motors Oshawa Assembly Plant in Oshawa.

Statistics Canada says wholesale sales fell 1.7 per cent to $85.6 billion in February after hitting a record high in January.

The agency says wholesale sales were down in five of the seven subsectors it tracks as a drop in motor vehicle and motor vehicle parts and accessories and the food, beverage and tobacco subsectors helped lead the way lower.

Motor vehicle and motor vehicle parts and accessories fell 5.5 per cent to $12.4 billion in February as motor vehicles sales dropped 6.2 per cent.

Meanwhile, the food, beverage and tobacco products subsector fell 3.9 per cent to $15.1 billion.

The machinery, equipment and supplies subsector rose 1.5 per cent to $18.2 billion in February.

In constant dollar terms, overall wholesale sales fell 1.8 per cent in February.

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2023-04-17 14:19:00Z
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