January retail sales from Statistics Canada
- Prior was -0.5% (revised to -0.4%)
- Ex-autos +1.7% vs +1.3% exp
- Prior ex autos -0.3% (revised to -0.5%)
- Sales at $46.0 billion in January
- Sales were up in 10 of 11 subsectors in January
Sales were driven largely by a 3.8% rise at motor vehicle and parts dealers with new car dealers up 4.2%.
Globally, e-commerce is the big story as it continues to explode. On a year-over-year basis, retail e-commerce increased 17.2%, while total retail trade rose 3.4%. Still, only sales only account for 2.7% of total sales; there is still lots of room for growth.
