Wholesale Trade Stayed on a Roll in February

There was one bright ray on the economic landscape in this country Tuesday morning.

Statistics Canada says wholesale sales posted their third consecutive monthly gain, climbing 0.3% to $63.7 billion in February.

Economists on average had expected a gain of 0.1% for the month, according to Thomson Reuters Eikon.

The agency says wholesale sales gains were led by the motor vehicle and motor vehicle parts and accessories sub-sector, which popped 9.5% to $11.6 billion.

Excluding the sub-sector, wholesale sales fell 1.5%. Only two of seven sub-sectors advanced.

The building material and supplies sub-sector fell 5.3% to $8.8 billion, while the machinery, equipment and supplies sub-sector dropped 1.3% to $13.1 billion in February.

Wholesale sales in volume terms increased 0.3%.