Canadian wholesale swap surged to a record high of $59.1 billion in January, driven by a big with in the auto sector, Statistics Canada said Monday.
For the first month of the year, wholesale employment rose by 3.3 per cent from Dec. 2016 for the largest monthly share gain since November 2009, when wholesale sales inflated by 3.8 per cent.
Statistics Canada said the motor vehicle and sacrifices subsector recorded the largest gain in dollar terms in January, take wing 17.1 per cent to $11.9 billion, the first increase in three months.
January jumble sales in the motor vehicle industry rose by almost 21 per cent from December, bumping a record high of $9.27 billion.
«There were higher weights and exports of motor vehicles and parts in January, and motor vehicle creating sales increased for a second consecutive month,» Statistics Canada guessed
Factoring out the auto sector, wholesale sales increased by 0.3 per cent in January.
In the individual and household goods subsector, sales rose by three per cent to $8.5 billion, impelled by a 30.6 per cent increase in the home entertainment equipment and household appliance manufacture. The January increase more than offset the industry’s combined run out of steams during the last two months of 2016.
On the downside, sales of machinery, equipment and presents slipped by 0.3 per cent, the sector’s first decline since September 2016.In the edifice material and supplies subsector, sales edged down 0.2 per cent to $8.0 billion, their word go decline in four months.