Figures released Thursday by Statistics Canada reveal that the value of Canadian wholesale trade dropped by 1% in March, pulled down in part by weaker sales in the motor vehicles and parts sub-sector.
Analysts had predicted a 0.5% drop in wholesale sales from February. The agency's revised February's month-on-month decline to 2.3% from an initial 2.2%.
It also says lower sales were recorded in five of seven sub-sectors, accounting for 65%of total wholesale trade. In volume terms, sales fell by 0.4%
The motor vehicles and parts sub-sector dropped by 2.5% to its lowest level in four months as vehicle sales fell while the miscellaneous sub-sector sank 3.2% on weakness in the agricultural supplies industry.
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