Canada

Friday, June 21, 2019 - 08:39

MNI DATA IMPACT: Canada Retail Sales +0.1%, Lags Expectation


By Greg Quinn

OTTAWA (MNI) - Canadian retail sales grew a less-than-expected +0.1% in April on weakness in automobiles and home improvement materials.

The increase was less than the +0.5% expected in the MNI median economist forecast, and the March increase of +1.3%. Excluding motor vehicles and gasoline, retail sales declined -0.1% in April. Another sign of weakness is the -0.2% in the volume of sales.

Motor vehicle and parts sales were +0.1% in April, after being little changed in March. Building material and garden supply store sales fell -2.6%. Gasoline again inflated retail sales with a +1.2% gain on higher prices, and taking out price changes they were -0.7%.

Sales excluding motor vehicles and parts were +0.1%, less than the expected +0.2% for April.

--MNI Ottawa Bureau; tel: +1 613-314-9647; greg.quinn@marketnews.com

[TOPICS: MACDS$,M$C$$$]

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