Canadian retail sales grew for the second consecutive month in February, by 0.5 per cent from January, but still have not completely recouped December’s weather-induced losses, according to Statistics Canada data released on Wednesday.
The sales increase follows a 0.9 per cent rise in January and a 1.4 per cent drop in December. The value of sales was C$41.03-billion ($37.30-billion), still a shade lower than November’s peak of C$41.05-billion. All the figures are seasonally adjusted.
In volume terms, relevant for calculating real economic growth, sales advanced by 0.1 per cent in February but remained a full 0.8 per cent below November’s peak.
Excluding motor vehicle and parts dealers, which registered no change in February, retail sales were up 0.6 per cent. Seven of 11 sectors, representing 56 per cent of retail sales, rose, with the largest advances in health and personal care stores and general merchandise stores. Gasoline sales fell 0.3 per cent.
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