Cedar planks are stacked at a lumber yard in Montreal, Tuesday, April 25, 2017. Statistics Canada says wholesale sales rose 4.0 per cent in January to $69.2 billion, helped by growth in the machinery, equipment and supplies, and the building material and supplies subsectors. THE CANADIAN PRESS/Paul Chiasson
March 12, 2021 - 6:20 AM
OTTAWA - Statistics Canada says wholesale sales rose 4.0 per cent in January to $69.2 billion.
The agency says the increase was helped by growth in the machinery, equipment and supplies, and the building material and supplies subsectors.
Analysts on average had expected an increase of 5.0 per cent for January, according to financial data firm Refinitiv.
Statistics Canada says sales in the machinery, equipment and supplies subsector climbed 10.8 per cent to $15.3 billion in January, helped by a 27.9 per cent increase in sales of computer and communications equipment and supplies.
The building material and supplies subsector saw an increase of 12.1 per cent, boosted by a 17.3 per cent increase in sales of lumber, millwork, hardware and other building supplies.
In volume terms overall wholesale sales grew 3.7 per cent in January.
This report by The Canadian Press was first published March 12, 2021.
News from © The Canadian Press, 2021