BUSINESS

Wholesale sales fall more than expected by economists, slip 0.3 per cent

01/21/2015 08:56 EST | Updated 03/23/2015 05:59 EDT
OTTAWA - Statistics Canada says wholesale sales fell 0.3 per cent to $54.0 billion in November. The move lower followed two consecutive monthly gains.

Economists had expected a drop of 0.1 per cent, according to Thomson Reuters.

Statistics Canada says three of seven subsectors were lower, led by the machinery, equipment and supplies group.

Higher sales were reported by the motor vehicle and parts subsector.

Wholesale sales in volume terms were down 0.3 per cent.

Statistics Canada's announcement followed a disappointing report on Tuesday that showed manufacturing sales fell 1.4 per cent in November to $51.5 billion — the third drop in four months.