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Flash Feb Retails +0.1%, Jan Fall Distorted By Cold Weather

CANADA DATA
  • February flash retail sales +0.1%, with StatsCan not providing breakdown by industry. The advance remains in line with views GDP expanded again in Q1 and perhaps faster than BOC estimated.
  • January sales -0.3% but the decline was distorted by record cold temperatures in British Columbia where the decline led all provinces at -2.2%. Auto sales that had been driven by pent-up demand also fell 2.4%, the first decline in 5M.
  • January sales volume +0.2%, a figure more aligned with GDP calculations.
  • Sales ex-autos +0.5%, excluding autos and gas +0.4%.
  • YOY sales +0.9%, ex autos/gas +2.1%.
  • January sales decline was the first since August.
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
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MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
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