- Canadian gross retail sales decreased 1.4 per cent in March 2023 to $65.3 billion according to the latest data from Statistics Canada
- Core retail sales — which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers — rose 0.3 per cent that month
- Sales at motor vehicle and parts dealers dropped 4.4 per cent in March, their first decline in eight months as sales at new car dealers fell 4.8 per cent
- However, sales at building material and garden equipment and supplies dealers rose 1.6 per cent and sales at sporting goods, hobby, musical instrument, book, and miscellaneous retailers managed to gain 1.6 per cent
Canadian gross retail sales decreased 1.4 per cent in March 2023 to $65.3 billion.
This is according to the latest data from Statistics Canada.
The federal agency’s preliminary numbers suggest core retail sales — which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers — rose 0.3 per cent that month.
Sales at motor vehicle and parts dealers dropped 4.4 per cent in March, their first decline in eight months as sales at new car dealers fell 4.8 per cent. Sales at gasoline stations and fuel vendors were down 3.9 per cent.
However, sales at building material and garden equipment and supplies dealers rose 1.6 per cent and sales at sporting goods, hobby, musical instrument, book, and miscellaneous retailers managed to gain 1.6 per cent.
Early estimates indicate that sales in April may have risen slightly, it wouldn’t be enough to make up for two back-to-back losses at the end of Q1 before it. That marked the first period of two straight months of losses since under COVID restrictions.
In volume terms, Statistics Canada says retail sales fell 1.0 per cent in March, but is 1.2 per cent higher overall looking at the first three months of the year. During that time, retail sales have been up 0.7 per cent.
Read more – Canada’s GDP growth slowed In February 2023.
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