MNI 5 Things: Canada January Retail Sales Disappoint Again>

     OTTAWA (MNI) - The following are the key points from the January 

data on Canadian retail sales released Friday by Statistics Canada: 

     - Total sales rose 0.3% in January, less than the 1.0% gain 

expected by analysts in a MNI survey. The disappointing performance came 

after a 0.7% drop in December, adding downside risk to the Bank of 

Canada's growth outlook. 

     - Sales volumes, more relevant to real GDP, edged up just 0.1% 

after a 0.6% drop the previous month. Overall, the failure to rebound 

more strongly on the back of a disappointing month of December confirms 

the weakening momentum in consumer spending. 

     - Sales were up in 7 of 11 subsectors, representing 63% of retail 

trade, with general merchandise stores (+2.3%) as the main upward 

contributor. 

     - Auto sales fell 1.2%, half of it explained by lower volumes. 

Sales excluding autos and parts rose 0.9% on the month, with volumes up 

0.4%. 

     - Gasoline station receipts were up 0.7%, but volumes fell 2.0%. 

Excluding gas stations, sales increased 0.3%. Excluding autos and gas, 

retail sales were up 0.9% after dropping 2.0% in December. 

--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com 

[TOPICS: M$C$$$,MACDS$]