Wednesday, May 23, 2012

Canada March Retail Sales Rise 0.4% On Warm Weather


Unseasonably warm weather in central Canada helped power an advance in retail sales in March that was above expectations and offset a decline in the previous month, Statistics Canada said Wednesday.

The data agency said March retail sales rose 0.4% to C$39.05 billion (US$38.22 billion), ahead of market expectations for a 0.3% gain, according to economists at Royal Bank of Canada.

Excluding the vehicle and auto parts sales, however, retail sales climbed by a modest 0.1%, to C$30.15 billion. Furthermore, the data agency said retail sales in Canada were flat when Ontario, Canada's largest province and the recipient of warm March weather, was excluded.

In volume terms, sales advanced 0.4%.


Read more: http://www.foxbusiness.com/news/2012/05/23/canada-march-retail-sales-rise-04-on-warm-weather/#ixzz1vkuGUXx4

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