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Statistics Canada released wholesale sales figures on Wednesday. Wholesale sales dropped 3.1% in January, missing expectations for a 2.1% gain, after a 2.8% rise in December. It was the largest monthly decline since January 2009.
December's figure was revised up from a 2.5% increase.
Sales declined in four of seven subsectors, driven by a in the sale of motor vehicles and parts. Sales of motor vehicles and parts plunged 11.3% in January.
Sales excluding the motor vehicle sector decreased 1.3% in January.
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