Canadian Retail Sales Slump in January

Canadian Retail Sales Slump in January

Mar 22, 2019

Retail sales in Canada fell for the third consecutive month as motor vehicle and parts dealers's trade declined due to lower new car sales.

Retail sales fell -0.3% in January, compared to -0.1% in December, Statistics Canada said on Friday.

Economists had expected sales to rise to 0.4%.

A rise in food and building material companies' receipts failed to offset the weakness in auto sales. Car and auto-part sales slipped -1.5% after an increase of 1% in the prior month, while gasoline sales fell -.04%.

Core retail sales, which excludes automobile sales, rose 0.1%. That follows a downwardly revised -0.8% drop in December.

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