Canada Retail Sales Decline 0.6% in February
Canadian retail sales fell sharply in February on lower auto sales.
The value of retail sales declined 0.6% in February to a seasonally adjusted 47.76 billion Canadian dollars ($35.12 billion), Statistics Canada said Wednesday. Market expectations were for retail sales to remain unchanged from the previous month, according to economists at Royal Bank of Canada.
In volume terms -- or when the effects of price changes are removed -- retail sales decreased 0.1% in February. Analysts look at volumes to get a more accurate reading on economic activity.
On a 12-month basis, nominal retail sales rose 4.7%.
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(END) Dow Jones Newswires
April 26, 2017 09:01 ET (13:01 GMT)