Canada's wholesale sales fall 1.1% in March

By Ovunc Kutlu

ISTANBUL (AA) - Wholesale sales in Canada decreased 1.1% in March, compared to the previous month, to $81.4 billion, according to the statistics office on Tuesday.

The market expectation for wholesale sales, a leading indicator of consumer spending, was to show a decline of 0.9%.

The figure for February was revised up to a gain of 0.2% from no change.

"Sales declined in three of the seven subsectors, with the largest decline coming from the motor vehicle and motor vehicle parts and accessories subsector," Statistics Canada said in a statement.

Wholesale sales in Quebec decreased 2% to $14.7 billion, while British Columbia saw a decline of 2.5% to $7.7 billion.

On an annual basis, wholesale sales, excluding petroleum, petroleum products, other hydrocarbons, oilseed, and grain, were 0.4% lower, compared to the same month of last year.