MNI DATA IMPACT: Canada March Retail Sales +1.1% On Gas Sales

By Greg Quinn

     OTTAWA (MNI) - Canadian retail sales increased in March for the second

consecutive month, up a softer-than-expected 1.1% to C$51.3 billion, led by a

6.0% price-related rise in gasoline sales. The March gain was the biggest

increase in total sales since May 2018 and followed an upward revision in March

to a 1.0% gain from the 0.8% rise previously reported. 

     Analysts in an MNI survey had expected a 1.2% gain. 

     The following are the other key points from the March data on retail sales

released Wednesday by Statistics Canada: 

     - Retail sales excluding motor vehicles and parts were up 1.7%, faster than

the MNI expected gain of 1.4%. 

     - Excluding price changes, sales in volume terms rose 0.3% in March. 

     - The retail gains were narrow, with industries representing just 39% of

total sales showing increases in March. Sales excluding gasoline stations rose

0.5%.   

     - On a 12-month basis, retail sales were up 2.6% and in volume terms were

up 1.2%. 

     - Sales rose 0.1% in the first quarter following a 0.5% decline in the

fourth quarter. In volume terms, sales fell 0.1% in the first quarter. 

--MNI Ottawa Bureau; +1 613-314-9647; email: greg.quinn@marketnews.com

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