BCREA ECONOMICS NOWCanadian Retail Sales - April 24, 2012
Canadian retail sales edged down 0.2 per cent in February, largely offsetting the gain in January. Declining sales at the National level were mostly accounted for in the motor-vehicle sector while lower sales were reported in just 5 of 11 retail subsectors. Today's release puts our quarterly tracking estimate of Canadian GDP growth at 2.4 per cent for the first quarter of 2012.
In BC, retail sales were strong, rising 0.4 per cent from last month and 5.8 per cent from February 2011. After underperforming for much of 2011, retail sales growth has started the year on much more solid footing.
For more information, please contact:
Cameron Muir Brendon Ogmundson
Chief Economist Economist
Direct: 604.742.2780 Direct: 604.742.2796
Mobile: 778.229.1884 Mobile: 604.505.6793
Email: cmuir@bcrea.bc.ca Email: bogmundson@bcrea.bc.ca
Copyright British Columbia Real Estate Association. Reprinted with permission.
