Canada November wholesale trade drops on weaker exports
OTTAWA (Reuters) - Canadian wholesale trade declined by 1.6 percent in November from October on lower demand for exports and weaker sales in Canada, Statistics Canada said on Wednesday.
The drop -- the third in four months -- was slightly greater than the 1.5 percent decrease predicted by analysts. In terms of volume of sales, wholesale trade fell 3.0 percent.
In November, four of the seven sectors reported lower sales. The machinery and electronic equipment sector dropped by 1.6 percent while automotive products sector slipped by 2.2 percent.
The largest decline was the 6.0 percent recorded in the "other products" sector, reflecting significant decreases in agricultural chemical and other farm supplies as well as lower demand and prices for recyclable metals.
Wholesale inventories rose by 1.0 percent to record their ninth consecutive monthly increase.
(Reporting by David Ljunggren; Editing by Theodore d'Afflisio)
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