Canada wholesale trade disappoints in November
OTTAWA (Reuters) - Canadian wholesale trade was flat in November from October as higher motor vehicle and food sales were offset by declines in five other subsectors, Statistics Canada said on Tuesday.
Analysts in a Reuters poll had forecast, on average, a 0.3 percent increase in wholesale activity in the month.
In volume terms, sales fell 0.1 percent, Statcan said. Excluding the auto sector, they declined 0.5 percent.
The strongest sales in November were in the motor vehicle and parts industry, with a 2.5 percent jump. The food, beverage and tobacco industry registered 1.2 percent sales growth.
Five subsectors reported lower sales, with the biggest drag coming from machinery, equipment and supplies wholesalers with a 0.8 percent decline.
In the year to November, wholesale trade rose 2.3 percent.
Wholesalers' inventories shrank by 0.3 percent in the month but were up 0.8 percent year-on-year.
(Reporting by Louise Egan and Alex Paterson; Editing by Chizu Nomiyama)
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