Canadian Retail Sales - May 19, 2017
Canadian retail sales increased 0.7 per cent on a monthly basis in March and were almost 7 per cent higher year-over-year. Sales were higher in 6 of 11 retail sub-sectors with new car sales leading the way. With today's strong retail sales data, we are tracking first quarter Canadian real GDP growth at a very strong 4.3 per cent.
In BC, retail sales jumped 2.3 per cent on a monthly basis and were up nearly 9 per cent year-over-year. That continues a string of positive economic data in BC and puts our tracking measure for BC real GDP growth at 3.8 per cent through the first 3 months of the year.
Copyright British Columbia Real Estate Association. Reprinted with permission.
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