Canadian Retail Sales - February 22, 2019
Canadian retail sales declined 0.1 per cent on a monthly basis in December as lower sales at gas stations offset otherwise strong spending. Excluding sales at gas stations, retail sales were up 0.4 per cent. For all of 2018, Canadian retail sales rose 2.7 per cent.
In BC, retail sales fell 0.2 per cent on a monthly basis and were up just 0.6 per cent year-over-year. For all of 2018, BC retail sales rose just 2.1 per cent, a steep decline from the over 9 per cent growth in retail spending in 2017. A pick-up in job growth and pressure on wages from BC's low unemployment rate should translate to a recovery in retail spending in 2019.
Copyright British Columbia Real Estate Association. Reprinted with permission.
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