Canadian retail sales rise 1.5 percent in January
Ottawa – Sales by Canadian retail stores rose by 1.5 per cent in January -_the third consecutive month of strong gains – led by purchases of vehicles, as well as building and outdoor home supplies, Statistics Canada said Tuesday.
“The exceptional weather fluctuations in December and January, the one percentage point reduction in the goods and services tax, and practices regarding the use of gift cards seem to have launched 2008 off to a good start for many retailers,” the federal agency said.
The January increase was above analysts’ forecasts of around 1.2 per cent. Sales rose by a revised 0.8 per cent in December.
Sales rose in all eight components of the retail index in January, the agency said.Leading the way were building and outdoor home supplies stores, which registered a 3.2 per cent increase, followed by clothing and accessories stores, up 2.9 per cent. Furniture, home furnishings and electronics stores saw sales rise 2.5 per cent, while automotive and general merchandise sales were up 1.8 per cent and 1.1 per cent, respectively.
Strong sales were recorded in most provinces, with the Atlantic region showing the biggest jumps.
Nova Scotia sales were up 4.6 per cent, New Brunswick rose 3.7 per cent and Prince Edward Island gained 3.4 per cent, while Newfoundland and Labrador saw a 3.3 per cent increase. “For the Atlantic provinces as a whole, this represents a resurgence in sales after two consecutive monthly declines. Sales in these provinces were strongly influenced by the predominance of passenger cars in new car sales,” Statistics Canada said.
