Statistics Canada reported on Monday the wholesale sales rose 0.9 percent m-o-m to CAD63.89 million in December, following a revised 1.1 percent m-o-m decrease in November (originally a 1.2 percent m-o-m decline).

Economists had forecast a 0.5 m-o-m gain for December.

According to the report, higher sales were recorded in four of seven subsectors, accounting for 63 percent of total wholesale sales. The December advance was led by gains in the motor vehicle and motor vehicle parts and accessories (+1.9 percent m-o-m) and the miscellaneous subsector (+2.5 percent m-o-m).

In y-o-y terms, wholesale sales grew 1.5 percent in December. In the fourth quarter, however, sales dropped 1.5 percent, following 14 consecutive quarterly increases. For 2019, wholesale sales rose 2.3 percent, compared to 3.7 percent in 2018 and 7.5 percent in 2017.