According to the report from Statistics Canada, retail sales fell for the second consecutive month, down 1.1% to $52.5 billion in January. Economists had expected a 3.0% decrease. Sales declined in 6 of 11 subsectors, representing 39.4% of retail sales.
Core retail sales—which exclude gasoline stations and motor vehicle and parts dealers—also posted their second consecutive decline, falling 1.4% in January because of lower sales at clothing and clothing accessories stores, furniture and home furnishings stores, and sporting goods, hobby, book and music stores.
In terms of volume, retail sales fell 1.6% in January.
Given the rapidly evolving economic situation, Statistics Canada is providing an advance estimate of retail sales, which suggests that sales increased by 4.0% in February. Owing to its preliminary nature, this figure will be revised.
This unofficial estimate was calculated based on responses received from 58% of companies surveyed. The average final response rate for the survey over the previous 12 months has been 86.5%.
© 2000-2021. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at firstname.lastname@example.org.