• Prior month -0.6%
  • Retail sales -0.4% versus -0.4% estimate
  • In volume terms, retail sales decreased 0.4% in February.
  • Ex auto +0.5% versus -0.4% estimate. Prior month revised from +0.2% to +0.1%
  • Retail sales decreased in seven provinces in February. The largest provincial decrease in dollar terms was observed in Quebec (-0.9%), marking its second consecutive monthly decline. In the Montréal census metropolitan area (CMA), sales were down 2.5%

Details:

  • Sales were down in four of nine subsectors and were led by decreases at motor vehicle and parts dealers

  • Motor Vehicle and Parts Dealers:

    • Overall sales decreased by -2.6% in February.

    • All four store types within this subsector saw declines.

    • New car dealers led the drop with a -3.0% decrease, marking a second consecutive monthly decline.

    • Automotive parts, accessories, and tire retailers also fell by -1.6%.

  • Gasoline Stations and Fuel Vendors:

    • Sales increased by +0.3% in February, marking the fifth consecutive monthly gain.

    • In volume terms, sales rose +0.8%.

Core retail sales ex Auto details:

  • Core Retail Sales:

    • Increased +0.5% in February.

  • Food and Beverage Retailers:

    • Sales rose +2.8%, driving much of the core retail growth.

    • Supermarkets and other grocery retailers (excluding convenience stores) increased +3.7%, rebounding from a -3.2% decline in January.

    • Beer, wine, and liquor retailers contributed with a +2.3% increase.

  • General Merchandise Retailers:

    • Sales were up +1.2% in February.

  • Furniture, Home Furnishings, Electronics, and Appliances Retailers:

    • Experienced the largest decline among core retail categories with a -2.9% decrease

Source: Forex Live