21 February 2012, 17:59  Canadian wholesale sales rise

Canadian wholesale sales moved up in December helped by higher sales in motor vehicle and parts. Wholesale sales rose 0.9 percent in December to C$49.6 billion, mainly as a result of higher sales in the motor vehicle and parts, and the food, beverage and tobacco products sub-sectors Statistics Canada said. In volume terms, wholesale sales were up 1.3 percent in December. December's increase in wholesale sales was the seventh in the last eight months of the year, with four of the seven sub-sectors, representing 71 percent of wholesale sales, reporting increases. The motor vehicle and parts sub-sector posted the strongest gain, adding 3.4 percent, with sales in this sub-sector reaching C$8.4 billion in December, their highest level since March 2007. Wholesalers increased their stockpiles in December, with inventories edging up 1.4 percent to C$58.5 billion in December. On an annual basis, wholesale sales rose to C$577 billion in 2011, up 7.4 percent from the previous year.

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