Retail sales fell 0.4% to $69.3B in February: StatCan

Statistics Canada says retail sales dropped 0.4% to $69.3 billion in February as sales fell at new car dealers.

The agency says results were lower in four of nine subsectors it tracks, with sales at motor vehicle and parts dealers down 2.6%, including a 3% drop at new car dealers.

Core retail sales — which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers — rose 0.5%.

The increase in core sales came as sales at food and beverage retailers gained 2.8%.

In volume terms, overall retail sales fell 0.4% in February.

Looking ahead, Statistics Canada says its early estimate suggests retail sales increased 0.7% in March, though it cautioned the figure would be revised.

The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.