Forexpros – Core retail sales in Canada rose less-than-expected in March, while total retail sales rebounded from the previous month’s decline, official data showed on Wednesday.
In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.1% in March, significantly below expectations for a 1.0% increase.
February’s figure was revised down to a 0.4% increase from a previously reported 0.5% gain.
Core retail sales rose at an annualized rate of 2.4% in March after climbing at a rate of 2.5% in February.
Total retail sales rose by a seasonally adjusted 0.4% in March, in line with expectations, after falling by 0.2% in February.
Year-on-year, retail sales rose at an annualized rate of 4.1% in March after advancing at the same rate in February.
Warmer than usual weather, especially in Ontario, contributed to the gains reported in 7 of 11 subsectors.
Following the release of the data, the Canadian dollar held on to losses against its U.S. counterpart, with USD/CAD gaining 0.3% to trade at 1.0236.
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