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22.05.2019 20:41

Canada’s retail sales up 1.1 percent in March

Statistics Canada reported on Wednesday that the Canadian retail sales rose 1.1 percent m-o-m to CAD51.30 billion in March, following a revised 1.0 percent m-o-m climb in February (originally a 0.8 percent m-o-m increase). That was the largest increase in retail trade since May 2018.

The result exceeded economists’ forecast, suggesting a 1.0 percent m-o-m advance for March.

According to the report, sales rose in 7 of 11 subsectors, representing 39 percent of retail trade.

The March advance was primarily attributable to higher sales at gasoline stations (+6.0 percent m-o-m) and building material and garden equipment and supplies dealers (+4.3 percent m-o-m).

Excluding motor vehicle and parts dealers, retail sales surged 1.7 percent m-o-m in March compared to an upwardly revised 0.7 percent m-o-m gain in February (originally a gain of 0.6 percent m-o-m) and economists’ forecast of a 0.9 percent m-o-m rise.

In y-o-y terms, Canadian retail sales jumped 2.6 percent in March, following an unrevised 1.8 percent advance in February.


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