- Prior month -0.3%
- The February advance estimate was +0.1%
- Ex autos -0.3% vs 0.0% expected
- Prior month ex auto +0.5% (revised to +0.4%)
- Ex auto and gas 0.0% vs +0.4% prior
- Sales down in 5 of 9 subsectors led by fuel stations
- Advance March retail sales 0.0%
The advance number is the important one here. It would market two months of weakness in a row and comes despite higher gasoline prices in March. This should further clear the way for a June Bank of Canada rate cut.
For February, higher sales were reported at general merchandise retailers (+1.1%) and, to a lesser extent, health and personal care retailers (+0.4%).
Offsetting these gains in February were lower sales at furniture, home furnishings, electronics and appliances retailers (-1.5%), clothing, clothing accessories, shoes, jewelry, luggage and leather goods retailers (-1.0%) and building material and garden equipment and supplies dealers (-0.4%).
Canada retail sales ex autos
