Robb M. Stewart
OTTAWA--An advance estimate of Canadian wholesale trade indicates sales pulled back in March with a drop in motor vehicles and parts.
Statistics Canada on Friday said an advance tally of wholesale sales points to an decline of 1.3% for the month.
The estimates indicate lower vehicle and vehicle parts and accessories sales, and a drop in trade in the miscellaneous sector.
February sales in the wholesale sector were essentially unchanged from the month before at a seasonally adjusted 82.18 billion Canadian dollars, the equivalent of $60.16 billion, Statistics Canada reported earlier this month. Growth in sales of machinery, equipment and supplies, alongside a recovery in motor vehicle and parts sales, were offset for the month by lower sales in the food, beverage and tobacco and the personal and household goods sectors.
Wholesale sales including petroleum, oilseed and grain, the measure the data agency is transitioning to, rose 2.3% in February to C$120.0 billion.
February's estimate was based on a weighted response rate to the data agency's survey of almost 70%. Statistics Canada is scheduled to release official wholesale trade data May 14.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
04-26-24 0909ET
