Canada retail sales for January 1.4% versus 0.7% estimate

• Prior month 0.5% revised down to 0.0%
• Canada retail sales 1.4% versus 0.7% expected. (The preliminary estimate last month was at 0.5%)
• Ex autos 0.9% versus 0.6% estimate. Prior revised to -0.7% from -0.6%
• The preliminary estimate for next month suggest a decrease of -0.6% February.
• retail sales excluding gasoline stations and fuel vendors and motor vehicle and part dealers rose 0.5%
• retail sales increase in seven of nine subsectors represented 88.7% of retail trade
• motor vehicles and parts dealers rose 3.0%. This was the six consecutive monthly increase. New car dealers rose is 3.0% which was the second largest increase since May 2022
• gasoline stations and fuel vendors +2.9%. In volume terms though gasoline stations and fuel vendors fell -0.6% as gasoline prices increase 4.7% versus January. The rise in prices was due largely to refinery closure in the southwestern United States.

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The gain this month was stronger than the preliminary estimate from last month of 0.5%. However the prior month was revised sharply lower to 0.0% from 0.5% previously reported.

NOTE: The official estimate February was calculated based on responses received from 51% of the companies surveyed. The average final review response rate for survey over the previous 12 months was 89.9%

/Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term