(Bloomberg) -- Canadian factory sales rose on higher crude oil prices while weak activities for food and tobacco weighed on wholesale trade.

Manufacturing sales jumped 0.7% in February, Statistics Canada reported Monday in Ottawa. Receipts for wholesales excluding petroleum, oilseeds and grain were flat. Factory gains matched a median estimate by economists in a Bloomberg survey, but the wholesale figure missed a 0.8% estimate.

After the reports, which were released at the same time as US retail sales data, which beat estimates, the Canadian dollar weakened before reversing to trade at C$1.3744 per US dollar at 8:45 a.m. Ottawa time. Canada benchmark two-year yields went up about a basis point before pulling back as well.

In volume terms, manufacturing sales increased 0.1% in February and wholesales were up 0.2%.

Higher prices for refined petroleum products and record sales of electrical equipment led factory increases in February. For wholesales, growth in sales of machinery and equipment as well as motor vehicles and parts offset a decrease in the food, beverage and tobacco subsector.

Total manufacturing inventories dropped 0.7%, the third straight monthly decline, while wholesale inventories fell 1% to the lowest level since December 2022, with food, beverage and tobacco wholesalers leading the declines.

--With assistance from Jay Zhao-Murray.

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