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Statistics Canada says wholesale sales fell 0.7 per cent in February

Wholesale sales fall

Statistics Canada says wholesale sales fell 0.7 per cent in February to $68.8 billion, the second drop in three months.

The drop followed a gain of 4.0 per cent in January.

The agency says sales were lower in four of the seven subsectors, led by building material and supplies, and motor vehicle and motor vehicle parts and accessories.

The building material and supplies subsector fell 6.1 per cent in February as housing starts in Canada fell for a third consecutive month and U.S. housing starts hit a six-month low.

Sales of motor vehicles and motor vehicle parts and accessories dropped 2.5 per cent in February as automakers continued to deal with a shortage of computer chips used in a wide range of vehicles.

In volume terms, wholesale sales fell 1.2 per cent in February.



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