Statistics Canada released wholesale sales figures on Thursday. Wholesale sales were flat in January, missing expectations for a 0.2% gain, after a 1.8% rise in December. December's figure was revised up from a 2.0% increase.

A rise in the machinery, equipment and supplies subsector was offset by a drop in the motor vehicle and parts subsector.

Sales of motor vehicle and parts were down 2.3% in January, while sales in in the machinery, equipment and supplies subsector rose 2.6%.

Inventories increased by 0.3% in January.