Canada retail sales for February -0.4% versus -0.4% estimate

• Prior month -0.6%
• Retail sales -0.4% versus -0.4% estimate
• In volume terms, retail sales decreased 0.4% in February.
• Ex auto +0.5% versus -0.4% estimate. Prior month revised from +0.2% to +0.1%

Details:

• Sales were down in four of nine subsectors and were led by decreases at motor vehicle and parts dealers

• Motor Vehicle and Parts Dealers:

  • Overall sales decreased by -2.6% in February.

  • All four store types within this subsector saw declines.

  • New car dealers led the drop with a -3.0% decrease, marking a second consecutive monthly decline.

  • Automotive parts, accessories, and tire retailers also fell by -1.6%.

• Gasoline Stations and Fuel Vendors:

  • Sales increased by +0.3% in February, marking the fifth consecutive monthly gain.

  • In volume terms, sales rose +0.8%.

This article was written by Greg Michalowski at www.forexlive.com.



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