Canadian February 2019 retail sales:
- Strongest since May 2018
- Prior was -0.3% (revised to -0.4%)
- Ex-autos +0.6% vs +0.2% expected
- Prior ex-autos +0.1% (revised to -0.6%)
Strong numbers on the headline but note the big negative revision on ex-autos. The headline rebound in February followed six straight months of flat or negative readings. Gasoline was a driver of gains but new car sales also rose 3.1%, likely on lower financing costs.
