Daily Update (Source: RBC Financial Group
Canadian retail sales up 0.7% in March
May 22, 2015
- Canadian retail sales rose 0.7% in March, building on a 1.5% (was 1.7%) increase in February that followed large declines of 1.4% and 1.8% in January and December, respectively. Market expectations were for a 0.3% increase in March.
- Controlling for the impact of prices, the volume of retail sales inched up 0.1%, following a 1.0% (was 1.3%) increase in February and a 0.6% decline in January.
- Regionally, nominal sales rose in six provinces, led by a 1.5% jump in Ontario, where sales are now up almost 6% from a year ago, and a 1.0% increase in Quebec. Sales in Alberta rose 1.1% to build on a 1.0% increase in February that followed four consecutive monthly declines.
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