UPDATE 1-Canada wholesale sales recoup some of Dec's loss in Jan

Wed Mar 19, 2014 8:37am EDT
 
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(Adds comparison of sales and inventories, further details)

* Sales +0.8 pct in Jan as expected; Dec -1.3 pct

* Sales volume +0.4 pct; inventories +1.4 pct

* In dollar terms, inventory rise is twice rise in sales

* All subsectors up except motor vehicles and parts

OTTAWA, March 19 (Reuters) - Canadian wholesalers in January recouped some of their lost sales from the previous two months, while adding to their inventories by an even greater amount, Statistics Canada said on Wednesday.

Wholesale sales rose, as expected, by a seasonally adjusted 0.8 percent, following declines of 0.2 percent and 1.3 percent in November and December respectively. In volume terms, relevant for calculating real gross domestic product changes, wholesale sales gained 0.4 percent.

Inventories increased by 1.4 percent and the ratio of inventories to sales rose to 1.25 from 1.24 in December. In dollar terms, inventories climbed by C$890 million ($795 million), more than twice the C$389 million increase in sales.

  Continued...