Ekonomické zprávy

Canada’s retail sales decline less than anticipated in February

The data, released by Statistics Canada on Friday, revealed that Canadian retail sales slipped 0.2 percent m-o-m at CAD66.34 billion in February, following an upwardly revised 1.6 percent m-o-m jump (from +1.4 percent m-o-m) in January. 

Economists had predicted a drop of 0.6 percent m-o-m for February.

According to the report, 4 of 9 subsectors demonstrated decreases in retail sales in February, accounting for 48.0 percent of total retail sales. Sales at gasoline stations and fuel vendors (-5.0 percent m-o-m) showed the largest drop, followed by general merchandise retailers (-1.6 percent m-o-m), and sporting goods, hobby, musical instrument, book, and miscellaneous retailers (-1.5 percent m-o-m). On the contrary, sales at clothing, clothing accessories, shoes, jewellery, luggage and leather goods retailers (+4.4 percent m-o-m), furniture, home furnishings, electronics and appliances retailers (+1.1 percent m-o-m) and health and personal care retailers (+1.0 percent m-o-m) logged the biggest advances.

Excluding auto, retail sales fell 0.7 percent m-o-m in February after an unrevised 0.9 percent m-o-m gain in the previous month, being better than economists’ prediction of a 0.1 percent m-o-m drop.

In y-o-y terms, Canadian retail sales surged 4.3 percent in February, following an upwardly revised 5.2 percent climb (from +5.0 percent) in the previous month. That was the weakest annual gain in retail sales since March 2022 (+3.2 percent).

Statistics Canada also revealed its preliminary estimates suggest that Canada’s retail sales declined 1.4 percent m-o-m in March.

Podívejte se také