Canadian Retail Sales Experience a Downturn in January

According to the latest figures released by Statistics Canada this Friday, the Canadian retail sector witnessed a 0.6% decrease in sales in January compared to the previous month. This downturn reflects a challenging period for retailers across the nation.

Core Retail Sales Also Decline

Excluding the sales from gasoline stations, fuel vendors, and motor vehicle and parts dealers, the core retail sales also saw a slight decline of 0.2% month-over-month, indicating a broader impact on the retail industry.

Sector-Wise Performance

The most significant drop was observed in the sales of motor vehicles and parts, which fell by 2.6%, closely followed by the food and beverage sector, which decreased by 2.5%. On a brighter note, gasoline stations and fuel vendors experienced a 3.2% increase in sales, and the furniture, home furnishings, electronics, and appliances sector saw a 3% rise in trade.