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Canada reverses wholesale sales decline

April 23, 2012 at 9:59 AM   |   Comments

OTTAWA, April 23 (UPI) -- Wholesale sales in Canada reached $48.5 billion in February, a 1.6 percent month-over-month gain after a January decline, Statistics Canada reported Monday.

"The largest increase in dollar terms was in the motor vehicles and parts subsector," the agency said. "Sales were up 2.7 percent to $7.7 billion in February."

The gain came after January's monthly wholesale trade numbers fell 1.1 percent.

"Higher sales were reported in most subsectors in February, four of which accounted for about 90 percent of the national growth," StatsCan said.

Among the other wholesale sectors reporting gains, the home entertainment equipment and household appliances industry posted a 12.3 percent increase in February. The pharmaceuticals and pharmacy supplies industry recorded a 3.1 percent gain for the month.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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