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- Canadian wholesale sales rose 3.3% to a record high $59.1 billion in January
Canadian wholesale sales rose 3.3% to a record high $59.1 billion in January
This was the largest monthly percentage gain since November 2009, when wholesale sales rose 3.8%. Sales were up in four of seven subsectors, representing 55% of total wholesale sales. The motor vehicle and parts subsector contributed the most to the gain.
In volume terms, wholesale sales increased 3.4%.
The motor vehicle and parts subsector recorded the largest gain in dollar terms in January, rising 17.1% to $11.9 billion, the first increase in three months. Excluding this subsector, wholesale sales increased 0.3% in January. Sales in the motor vehicle industry (+20.8%) rose to a record high, and accounted for most of the advance in the subsector. There were higher imports and exports of motor vehicles and parts in January, and motor vehicle manufacturing sales increased for a second consecutive month.
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