By Kim Mackrael
OTTAWA–Canadian wholesale transactions likely declined in February, according to an early estimate from the country’s data agency, following a strong performance in the previous month.
Wholesale sales are estimated to have fallen 0.4% on a seasonally adjusted basis in February from the previous month, Statistics Canada said Monday. The data agency is providing advance estimates for some indicators during the Covid-19 pandemic. The estimate for February may be revised when official data is released next month.
During the previous month, wholesale sales rose 4.0%.
Statistics Canada said the estimated decline in February reflects lower sales in the building materials and supplies subsector and the machinery, equipment and supplies subsector.
Wholesale trade is the largest component of Canada’s services sector. Wholesalers connect farmers or manufacturers that produce goods with companies and public institutions that use them. They also import goods from other countries and redistribute them within Canada.
Write to Kim Mackrael at [email protected]
(END) Dow Jones Newswires