Canada March retail sales -10.0% vs -10.5% m/m expected
Canada March retail sales data
- Prior was +0.3%
- First decline in five months
- Ex autos -0.4% vs -10.0% expected
- Reports says "about 40% of retailers closed their doors during March"
- Retail ecommerce +16.3%
- Motor vehicle and parts dealers -35.6%
- Food and beverage +22.8%
- Statistics Canada estimates April retail sales fell 15.6%
The ex-autos headline was much stronger than anticipated but March is ancient history at this point and I don't think it matters. Canadians reacted to the pandemic about the same as everyone else.