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- Canada’s retail sales down 0.3 percent in January
Canada’s retail sales down 0.3 percent in January
Statistics Canada reported on Friday that the Canadian retail sales fell 0.3 percent m-o-m to CAD50.09 billion in January 2019, following a revised 0.3 percent m-o-m drop in December 2018 (originally a 0.1 percent m-o-m decrease).
The result missed economists’ forecast, suggesting a 0.4 percent m-o-m advance for January.
According to the report, sales fell in 4 of 11 subsectors, representing 52 percent of retail trade.
The January drop was primarily attributable to lower sales at sales at motor vehicle and parts dealers (-1.5 percent m-o-m).
Excluding motor vehicle and parts dealers, retail sales edged up 0.1 percent m-o-m in January compared to an upwardly revised 0.8 percent m-o-m decline in December and economists’ forecas of a 0.2 percent m-o-m rise.
In y-o-y terms, Canadian retail sales rose 1.1 percent in January, following an unrevised 1.7 percent rise in December.
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