Canada Retail Sales Mom

Retail sales in Canada likely remained unchanged over a month in March 2024, according to preliminary data. Considering February, retail sales fell by 0.1% from the earlier month, contrasting with an earlier estimate of a 0.1% uptick and following a 0.3% decrease in the prior month. Market analysts had expected a 0.1% gain. Sales were down in five of nine subsectors and were led by decreases at gasoline stations and fuel vendors (-2.2%). Core retail sales, which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers, were unchanged in February. Retail sales decreased in seven provinces in February, with the largest decline observed in Alberta (-1.1%), led by lower sales at motor vehicle and parts dealers. On a yearly basis, retail activity rose by 1.2% in February, after a 0.9% increase in the prior month.