Canada Wholesale Trade Plunges 3.1% in January

March 18, 2015 1:27 PM

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OTTAWA—Canadian wholesale trade plummeted 3.1% in January, the most in a single month since the height of the 2008-09 financial crisis, with much of the decline focused in the auto sector.

Wholesale trade receipts declined to 53.73 billion Canadian dollars ($42.06 billion) in January from December, Statistics Canada said Wednesday. The 3.1% drop was well below the market consensus for a 0.8% decline, according to economists at Royal Bank of Canada.

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