FX.co ★ Canada Wholesale Sales Fall More Than Initially Thought

Canada’s wholesale trade declined by 1% month-on-month to C$85.2 billion in January 2026, a deeper contraction than the initially estimated 0.6% drop, following a revised 1.8% increase in December. The downturn was driven primarily by weaker sales in the motor vehicle and motor vehicle parts and accessories subsector (-3.9%), along with a sharp decline in the mineral, ore and precious metals industry group (-38.3%). These decreases were partly offset by a 1.6% rise in sales in the food, beverage and tobacco subsector. In January, wholesale sales fell in six provinces, led by Ontario (-1.7%) and Quebec (-0.9%), while British Columbia recorded a 0.9% increase.