FXstreet.com (Barcelona) - Canadian wholesale trade has recovered in January from a disappointing reading in December, due in a great part to an increase on sales of agricultural chemicals, according to data released by Stacan.

Sales by Canadian wholesalers have posted a 2.6% increase in January totalling % 44.6 billion, reversing, thus, the 2.6% revised drop recorded in December.

The rise on sales has been broad based, as six out of seven sectors have reported increases, a remarkable increase was posted in agricultural chemicals, favoured by a sharp increase on prices, which fuelled the other products sector to a 11.4% growth. Machinery and electric equipment wholesales reported a 2.2% rise, and beverage, tobacco and other products posted a 2.1% increase. The farm products sector, on the other side, registered a 4.6% decline.