FX.co ★ Canadian Retail Sales Fall for 2nd Month

Retail sales in Canada are anticipated to decrease by 0.4% in February 2025 compared to the previous month, according to preliminary estimates. This follows a revised 0.6% decline in January, bringing total sales to C$69.4 billion, adjusted from an initial estimate of a 0.4% drop. These successive downturns mark the first consecutive dips in retail sales since June 2024. The decline was notably pronounced in the motor vehicles and parts sector, which fell by 2.6% to C$19.3 billion, driven by a significant 3.2% decrease in new car dealership sales, reaching C$15.3 billion. There were also declines in the food and beverage sector, down by 2.5% to C$12.9 billion, and among retailers of sporting goods, hobbies, musical instruments, books, and miscellaneous items, which saw a 2.2% decrease to C$3.8 billion. Conversely, sales at gasoline stations increased by 3.2% to C$6.7 billion, while general merchandise retailers experienced a 0.9% rise to C$9.4 billion. Year-over-year, turnover has improved by 4.2%.