Information out of the nation's capital revealed that the value of Canadian wholesale trade grew to hit a record, pushed up by demand for building materials and supplies. Statistics Canada reported Tuesday morning that March wholesale sales grew 0.9%
What's more, the agency's revised February's data to a 0.3% increase from an initial 0.2% decline and slashed January's growth to 1.7% from 3%.
Stripping out the effect of prices, March volumes hiked 0.6%. Overall, sales gained in four out of seven sub-sectors, accounting for 60% of wholesale trade.
Wholesale trade in building materials and supplies jumped 3.9% on higher sales of lumber, millwork and hardware as well as metal services. Food, beverage and tobacco sales advanced 1.1%.
The nation's number-crunchers said two major sub-sectors reported slight falls. Sales of machinery and supplies dipped 0.5% while motor vehicles and parts edged down 0.2%.
