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Free AccessMNI DATA IMPACT: Canada Jan Retail Sales -0.3%,Below Expected>
By Courtney Tower
OTTAWA (MNI) - The following are the key points from the January
data on retail sales released Friday by Statistics Canada:
- Canadian retail sales decreased 0.3% to C$50.1 billion in
January, largely on a 1.5% drop in sales of motor vehicles and parts and
essentially due to price changes rather than volume changes. Analysts in
a MNI survey and in a BBG consensus had expected a 0.4% gain. The
estimate for December was revised down to -0.3% from -0.1%.
- Retail sales excluding motor vehicles and parts were up 0.1%. And
total sales by volume were unchanged.
- The decrease in total sales for the third straight month had not
been seen since the three-month decline in April-June 2012. Decreases
were concentrated in four sub-sectors of retail trade, including motor
vehicles and parts, as well as gasoline stations (-0.4%), representing
52% of retail trade. Sales excluding gasoline stations were down 0.3%,
and sales excluding gasoline stations and auto and parts rose 0.2%.
- In real terms, however, retail sales decreased in only two
subsectors: autos and parts (-1.2%), and general merchandise (-2.6%).
Sales at gasoline stations rose 1.9%.
- On a 12-month basis, retail sales were up 1.1% and in volume
terms were up 1.8%. Excluding motor vehicles and parts, sales rose 0.6%,
but were up 1.7% in volume.
--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com
[TOPICS: MACDS$,M$C$$$]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.