Canada’s retail sales down 0.1 percent in December

Statistics Canada reported on Friday that the Canadian retail sales edged down 0.1 percent m-o-m to CAD50.35 billion in December, following an unrevised 0.9 percent m-o-m drop in November.

The result exceeded economists’ forecast, suggesting a 0.3 percent m-o-m drop for December.

According to the report, sales fell in 7 of 11 subsectors.

The December drop was primarily attributable to lower sales at gasoline stations (-3.6 percent m-o-m) and electronics and appliance stores (-4.0 percent m-o-m), which however were partly offset by higher sales at motor vehicle and parts dealers (+1.0 percent m-o-m), food and beverage stores (+0.9 percent m-o-m) and building material and garden equipment and supplies dealers (+3.1 percent m-o-m).

Excluding motor vehicle and parts dealers, retail sales fell 0.5 percent m-o-m in December. Excluding gasoline stations, retail sales increased 0.4 percent m-o-m.

In y-o-y terms, Canadian retail sales surged 1.7 percent in December, following an unrevised 0.5 percent rise in November.

Retail sales declined 0.5 percent y-o-y in the fourth quarter of 2018, following a 0.7 percent y-o-y advance in the third quarter.

For the full 2018, retail sales rose 2.7 percent y-o-y.