CANADA DATA: Jan Wholesale Sales +1.2%, Short of Flash Estimate
Mar-14 13:09
Wholesale ex-petroleum & grains +1.2% MOM in January, below advance estimate of +1.8% and follows -0.2% in Dec. Increase led by autos.
Sales +2.7% YOY. Sales volume +0.8% MOM.
Inventories -0.1% to CAD128B driven by machinery and equipment.
In a separate report, manufacturing sales +1.7% MOM, also missing the flash estimate +2.0%, prior +0.3%. Volumes +0.9%. Autos also led the increase, rebounding +11% in Jan after -4.7% in Dec as operations resumed Jan from planned winter shutdowns. Also, rise was boosted by higher electric vehicle sales.