The value of Canadian wholesale trade rose more than expected for a second month in a row in December, led by gains in the motor vehicle and parts sector, data from Statistics Canada showed on Thursday.
The 2.0 per cent gain topped economists’ expectations for a small increase of 0.2 per cent from November’s upwardly revised 1.9 per cent. Volumes increased by 1.8 per cent in December.
Motor vehicles and parts saw the largest increase in dollar terms, surging 10.6 per cent to $11.26-billion.
Sales of vehicles were the highest on record, while there was also an increase in exports and imports of vehicles and parts.
Sales in the food, beverage and tobacco sector rose 1.3 per cent, the second increase in three months.
Overall, higher sales were seen in four out of seven sectors, accounting for 66 per cent of wholesale sales.
For the year as a whole, sales grew 4.0 per cent, with every province except oil-sensitive Alberta posting higher sales. Still, most provinces saw slower growth last year compared to 2014.
via Globe and Mail