February Retail Sales Overview

In a surprising turn, Statistics Canada reported a 0.4% decline in retail sales for February compared to the previous month. This dip highlights the fluctuating consumer spending patterns in the early months of the year.

Core Retail Sales Shine

Excluding sectors like gasoline stations, fuel vendors, and motor vehicle and parts dealers, core retail sales actually saw a positive uptick of 0.5% in February, suggesting resilience in certain areas of the economy.

Sector-Specific Performance

The most significant drop was observed in motor vehicle and parts dealers, with sales plummeting by 2.6%. Conversely, gasoline stations and fuel vendors experienced a slight increase of 0.3% in sales.

March Retail Sales Preview

An unofficial advance estimate brings a glimmer of hope, indicating a 0.7% increase in retail sales for March, potentially signaling a rebound in consumer spending.