Canada: Retail sales rebound in February, increase 0.8% following January's 0.4% decline

Eren Sengezer FXStreet

"Following three consecutive monthly declines, retail sales rose 0.8% in February to $50.6 billion," Statistics Canada reported on Thursday.

Key takeaways from the press release

Sales were up in 5 of 11 subsectors, representing 73% of retail trade.
Higher sales at general merchandise stores and motor vehicle and parts dealers were the main contributors to the increase.
After removing the effects of price changes, retail sales in volume terms were up 0.2%.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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