Canada

Wednesday, May 22, 2019 - 08:43

MNI DATA IMPACT: Canada March Retail Sales +1.1% On Gas Sales


By Greg Quinn

OTTAWA (MNI) - Canadian retail sales increased in March for the second consecutive month, up a softer-than-expected 1.1% to C$51.3 billion, led by a 6.0% price-related rise in gasoline sales. The March gain was the biggest increase in total sales since May 2018 and followed an upward revision in March to a 1.0% gain from the 0.8% rise previously reported.

Analysts in an MNI survey had expected a 1.2% gain.

The following are the other key points from the March data on retail sales released Wednesday by Statistics Canada:

- Retail sales excluding motor vehicles and parts were up 1.7%, faster than the MNI expected gain of 1.4%.

- Excluding price changes, sales in volume terms rose 0.3% in March.

- The retail gains were narrow, with industries representing just 39% of total sales showing increases in March. Sales excluding gasoline stations rose 0.5%.

- On a 12-month basis, retail sales were up 2.6% and in volume terms were up 1.2%.

- Sales rose 0.1% in the first quarter following a 0.5% decline in the fourth quarter. In volume terms, sales fell 0.1% in the first quarter.

--MNI Ottawa Bureau; +1 613-314-9647; email: greg.quinn@marketnews.com

[TOPICS: MACDS$,M$C$$$]

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