Statistics Canada released wholesale sales figures on Thursday. Wholesale sales dropped 1.0% in March, missing expectations for a 0.5% fall, after a 2.3% decline in February. February’s figure was revised down from a 2.2% drop.
The decline was mainly driven by a drop in the motor vehicle and parts subsector and the miscellaneous subsector.
Sales of motor vehicle and parts were down 2.5% in March, while sales in in the miscellaneous subsector slid 3.2%.
Inventories decreased by 0.1% in March.
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