Statistics Canada provided more evidence Thursday our economy remains on very shaky ground.
Figures released by the agency showed the value of Canadian wholesale trade fell in September, weighed mostly by 3% lower sales in motor vehicles and parts.
Wholesale trade declined 0.1%, to a seasonally-adjusted $55.24 billion, contrary to economists' forecasts for a gain of 0.3%, while the volume of sales decreased by 0.4%. August's figures were revised to show no change after an initially reported decline of 0.1%.
Lower sales were seen in three of the major sectors, which accounted for 45% of wholesale trade. Excluding autos, overall sales rose 0.5%
Alberta and British Columbia weighed sales the most. Sales in Alberta, which has been hit by the drop in oil prices, were down 1.3% to their lowest level since June 2013. The weakness was widespread across sectors and made for the ninth decline in 10 months.
StatsCan also reported that wholesale inventories dropped for the first time in 11 months -- 0.4% to $72.95 billion.
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