Canadian wholesale sales slump in October

OTTAWA, Dec. 17 (UPI) -- Wholesale sales in Canada dipped 3.6 percent to $45.3 billion in October, led by drops in recycled metals and the auto sector, Statistics Canada reported.

The decline came after a 1.1 percent increase in September, and was also partly attributed to the falling value of the Canadian dollar, the report said.

Recycled metals were affected by less demand and lower prices while sales of automotive products fell 5.4 percent in October to $6.9 billion, led by a 6.9 percent decrease in the sales of motor vehicles, StatsCan said.

Among all seven sectors, the food, beverages and tobacco sector had the highest monthly wholesale increase of 1.8 percent, and sale in the machinery and electronic equipment sector rose 0.4 percent in October.

By region, seven of 10 provinces registered lower sales in October, the agency said.