Steve Flynn  RE/MAX Crest Realty- Burnaby 

Cell: 604.785.3977 |

Categories
RSS

Canadian Retail Sales (Jan) - March 21, 2020

A weak report to start off 2020. Seasonally-adjusted Canadian retail sales were up by 0.4% in January at $52 billion. The rise in January was driven by auto dealers and gas stations. Minus these two sub-sectors and sales were down 0.3% in the month. Sales were up in 4 of 11 sub-sectors, representing 48% of retail sales. The impact of COVID-19 on the retail sector will become more evident in the months to come. Statistics Canada notes that respondent comments for February shows that business activities have been impacted. 

Regionally, 8 of 10 provinces reported monthly increases in January. Notable increases were reported in Quebec (1.7%) and Alberta (1.6%). In contrast, retail sales were down in Ontario (-0.8%).

In BC, seasonally-adjusted retail sales were unchanged at $7.3 billion in January. Looking at the non-seasonally adjusted change shows a different picture. Retail sales in January were down from the previous month in all sub-sectors, except at auto dealers and gas stations. Meanwhile, Vancouver reported a monthly decrease of 1% in retail sales. Compared to the same time last year, BC retail sales were down by 0.4% in January.



Copyright British Columbia Real Estate Association. Reprinted with permission.


Comments:

No comments

Post Your Comment:

Your email will not be published
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.