Wholesale trade hit record in January

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Canadian wholesale mtier surged to a record high of $59.1 billion in January, driven by a big move further in the auto sector, Statistics Canada said Monday.

For the first month of the year, wholesale swop rose by 3.3 per cent from Dec. 2016 for the largest monthly portion gain since November 2009, when wholesale sales lengthened by 3.8 per cent.

Statistics Canada said the motor vehicle and factors subsector recorded the largest gain in dollar terms in January, produce 17.1 per cent to $11.9 billion, the first increase in three months.

January sales in the motor channel industry rose by almost 21 per cent from December, zapping a record high of $9.27 billion.

«There were higher allusions and exports of motor vehicles and parts in January, and motor vehicle creation 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, thrust by a 30.6 per cent  increase in the home entertainment equipment and household appliance dynamism. The January increase more than offset the industry’s combined sets during the last two months of 2016.

On the downside, sales of machinery, equipment and fulfills 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 beginning decline in four months.

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