Statistics Canada released wholesale sales figures on Wednesday. Wholesale sales dropped 2.2% in February, missing expectations for a 0.3% fall, after a flat reading rise in January.

The decline was mainly driven by a drop in the machinery, equipment and supplies.

Sales of motor vehicle and parts were down 3.5% in February, while sales in in the machinery, equipment and supplies subsector slid 4.8%.

Inventories increased by 0.2% in February.