January 22, 2020 / 2:04 PM / a month ago

Canada's wholesale trade declines for third time in five months in November

FILE PHOTO: Sales on clothing and shoes are advertised at the entrance to a Forever 21 fashion retail store in downtown Toronto, Ontario, Canada September 30, 2019. REUTERS/Chris Helgren/File Photo

OTTAWA (Reuters) - Canadian wholesale trade fell for the third time in five months in November, Statistics Canada said on Wednesday, declining 1.2%as sales of motor vehicles and motor vehicle parts and accessories dropped.

Analysts in a Reuters poll had predicted trade would hold steady in November following a downwardly revised decline of 1.2% in October.

Statscan said wholesale inventories increased by 0.4% while sales volumes declined by 0.9%.

The motor vehicle and motor vehicle parts and accessories subsector fell for a fourth consecutive month, dropping by 3.3%. Sales were down in five of the seven subsectors and in six of Canada’s 10 provinces, the agency said.

Reporting by Steve Scherer, Editing by Dale Smith and Nick Zieminski

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