Statistics Canada reported Thursday the value of Canadian wholesale trade was flat in January from December as lower auto sales canceled out gains in other sectors.
Analysts had predicted a 0.2% increase in wholesale sales from December. In volume terms, sales fell by 0.2%
Sales in the motor vehicles and parts sub-sector dropped by 2.8%, the first decline in three months. The agency also said sales of motor vehicles, which had hit a record in December, sank 4.9%
Overall, sales were higher in four out of seven sub-sectors, accounting for around 54% of wholesale sales.
The machinery, equipment and supplies sub-sector gained 2.6% while personal and household goods rose 0.5% to hit a record high.
Finally, the nation's number-crunchers reported, wholesale inventories edged up by 0.3%, the first increase in three months.
