Surprise Dip for Wholesale Trade

Figures released Monday by Statistics Canada revealed that wholesale trade fell unexpectedly in February as declines in the motor vehicle and parts and miscellaneous sectors offset increases in personal and household goods.

The 0.8% drop in the value of wholesale trade bucked economists' forecasts for a 0.5% increase. January was upwardly revised to show an increase of 0.3% from the initially reported 0.1% increase.

The agency went on to say sales were down in four out of seven sectors in February, accounting for 64% of wholesale trade. Removing the effects of price changes, sales volumes were down 0.9%.