FXstreet.com (Barcelona) - After having decreased somewhat in February, Canadian Retail sales have edged up in March, although the recovery has failed to meet the experts expectations, according to data released by Statistics Canada.
Retail sales have picked up 0.1% in Canada in March to an estimated volume of C$35.5, following a 0.3% decline in February. The pick up has been rather weaker than expected, as market analysts had advanced a 0.4% increment.
Automotive sales, with a 0.4% increase have been one of the largest positive contributors, but its increase has been offset by a 2.6% decline in sales of clothing and accessories. Excluding autos, sales of all other products have remained flat.
In the first quarter of the month, retail sales have risen 1.8% pushed up by a strong reading in January, the quarterly performance has been similar to that of the previous one.