The data, published by Statistics Canada on Friday, showed that the
Canadian retail sales were flat m-o-m at CAD60.09 billion in March, following
an upwardly revised 0.2 percent m-o-m gain (from 0.1 percent m-o-m) in February.
Economists had forecast an advance of 1.4 percent
m-o-m for March.
According to the report, 10 of 11 subsectors saw increases in retail
sales in March, accounting for 75.0 percent of total retail sales. The largest
increases occurred at gasoline stations (+7.4 percent m-o-m), miscellaneous
store retailers (+5.9 percent m-o-m), and building material and garden equipment
and supplies dealers (+3.7 percent m-o-m). Meanwhile, the motor vehicle and
parts dealers (-6.4 percent m-o-m) recorded a decline in retail sales in March,
which offset gains in other subsectors.
Excluding auto, retail sales climbed 2.4 percent m-o-m in March after a
downwardly revised 1.8 percent m-o-m climb (from 2.1 percent m-o-m) in the
previous month, being better than economists’ forecast of 2.0 percent m-o-m
increase.
In y-o-y terms, the Canadian retail sales rose 2.7 percent in March,
following an upwardly revised 7.7 percent surge (from 7.4 percent) in the
previous month.