Auto sales lift Canadian wholesale sector in January

The Vancouver Sun (Ottawa) - Canada's wholesale sector was most active than economists were expecting in January, thanks largely to higher automobile sales.

On Thursday, Statistics Canada said sales in this sector were up 1.5 per cent from the month before, on a seasonally adjusted basis, to $46.7 billion. Economists polled by Bloomberg anticipated a 0.6 per cent rise.

December's figures were revised up to a 0.9 per cent gain from a 0.8 per cent rise.

Reflecting lower prices, Statistics Canada said wholesale volume was up 1.6 per cent in January.

It marked the sixth straight month of gains in Canada's wholesale sector. Five of the seven main sub-sectors saw higher sales in January.

The leading category for growth was motor vehicles and parts, where sales were up 4.9 per cent to $7.9 billion.

On a year-to-year basis, January wholesale transactions were up 5.2 per cent from a year earlier.