MNI 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 

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