Spending on clothing and gas pushed retail sales up 0.1% in February – National

Retail sales rose 0.1% to $59.9 billion in February, according to Statistics Canada, as higher sales at clothing and clothing accessories stores and gas stations were offset by lower sales. motor vehicle and parts dealer sales.

The agency says core retail sales — which exclude sales at gas stations and motor vehicle and parts dealerships — rose 1.4%.

Sales at clothing and clothing accessories stores rose 15.1% for the month, while sales at building material and garden equipment and supplies dealers rose 5.6%. Service station sales increased by 6.2%.

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Canadians are spending 30% more than before COVID-19 despite inflation: report

Meanwhile, sales at motor vehicle and parts dealers fell 5.1%, the biggest drop for the group since a 6.2% decline in December 2020.

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Expressed in volume, retail sales fell 0.4% in February.

Looking ahead, Statistics Canada says its initial estimate for retail sales in March suggests a 1.4% gain for the month, but warned the figure will be revised.

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The Canadian economy is expected to grow by 4.25% in 2022, according to the Bank of Canada

Canadian economy expected to grow 4.25% in 2022: Bank of Canada – April 13, 2022

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