Daily Update (Source: RBC Financial Group
Canadian February retail sales jump higher
Apr 17, 2015
- Nominal retail sales in February 2015 surged by 1.7% in the month following a 1.4% drop in January.
- Nominal sales at gasoline stations contributed to the increase, rising by 2.2% following a 7.5% plummet in January
- Motor vehicle sales also rose in the month by 0.9% after falling by 1.3% in January.
- Excluding the auto and gasoline station components, so called core sales encouragingly surged by 2.0% in February, thus helping to reverse the 1.5% drop in January.
- On a volumes basis, overall retail sales in February rose by 1.3% after falling by a revised 0.6% (previously -1.2%) in January.
- Today’s report provided a break from a number of earlier-released economic indicators for February that had not been very encouraging; however
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