Canadian wholesale sales declined 3.4% to $42.8 billion in December, the largest month-over-month decrease since August 2003, according to Statistics Canada. In terms of the volume of sales, wholesale sales fell 3.6%.

Canadian wholesalers sell to both the domestic and international markets, and are active importers and exporters. The decline in sales reflected both lower export demand for Canadian goods, a significant part of which flows through wholesale markets, and weaker sales in Canada.

In December, five out of seven sectors, which account for about two-thirds of wholesale sales, reported declines. The machinery and electronic equipment sector declined 4.5% in December. The automotive products sector declined 3.4% …