Statistics
Canada reported on Friday that wholesale sales (excluding petroleum and oilseed
and grain) increased 1.2 per cent m-o-m to CAD85.13 billion in January 2025, following
an upwardly revised 0.3
per cent m-o-m advance (from -0.2 per cent m-o-m) in December 2024.
Economists had predicted
a 1.9 per cent m-o-m surge for January.
According to
the report, sales rose in five
of the seven subsectors, accounting for more than 77.6 per cent of total
wholesale sales. The motor
vehicle and motor vehicle parts and accessories (+3.7 per cent m-o-m) and building
material and supplies (+3.5 per cent m-o-m) subsectors posted the largest gains
in sales in January. Meanwhile, the farm product, excluding oilseed and grain (-5.1
per cent m-o-m), and machinery, equipment and supplies (-1.2 per cent m-o-m) subsectors
showed decreases.
In y-o-y terms,
wholesale sales (excluding petroleum, petroleum products, and other
hydrocarbons and excluding oilseed and grain) jumped 2.7 per cent in January.