The value of Canadian wholesale trade in March rebounded after two consecutive declines, rising 0.8% from February to $53.94 billion, according to figures released Wednesday by Statistics Canada.
Analysts had expected a 0.9% increase in March. In volume terms, wholesale sales increased by 1%.
Higher sales were recorded in five of seven sub-sectors, accounting for 66% of wholesale trade.
The building material and supplies sub-sector recorded the largest increase in dollar terms in March, rising by 2.8% after a 2% decline in February. The motor vehicle and parts sub-sector advanced by 0.7%.
Overall wholesale sales fell by 0.4% in February. StatsCan revised January’s decline from 2.9% to 3.8%, the largest drop since the 4.6% plunge seen in January 2009.
The agency added that inventories rose by 1% in March. Gains were noted in four of the seven sub-sectors, representing 62% of wholesale inventories.
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