Canadian retail sales decline in February for the first time in five months

on April 23 2008 7:43 AM

FXstreet.com (Barcelona) - Retail sales volume has declined in February for the first time in five months, weighed by a sharp decline in automotive sales, with all the eight retail trade sectors declining, according to data released by Statistics Canada.

In February, retail sales fell 0.7%, following a 1.5% increase in January. The first decline in sales since the 0.2% fall posted in November 2007. Retail trade has experienced a period of sustained growth since the year 2004.

Sales in the automotive sector have declined 1.3% in February after four months of strong increase. Excluding automobiles, sales of all other sectors would have fallen 0.3%.

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