Statistics Canada says retail sales fell 0.4 per cent to $69.3B in February
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$1 per week for 24 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $4.00 plus GST every four weeks. After 24 weeks, price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Winnipeg Free Press access to your Brandon Sun subscription for only
$1 for the first 4 weeks*
*$1 will be added to your next bill. After your 4 weeks access is complete your rate will increase by $0.00 a X percent off the regular rate.
Read unlimited articles for free today:
or
Already have an account? Log in here »
OTTAWA – Retail sales dropped 0.4 per cent to $69.3 billion in February as sales fell at new car dealers, Statistics Canada said Friday.
However, the agency said its early estimate for March suggested an increase of 0.7 per cent for that month, though it cautioned the figure would be revised.
TD Bank economist Maria Solovieva said the bounce back in March was driven by Canadians pulling forward major purchases and stockpiling non-discretionary items ahead of incoming tariffs, so the rebound is expected to be short-lived.
“Consumers remain wary and may curb spending further until there is more certainty around employment, income prospects and inflation,” Solovieva wrote in a report.
“The Bank of Canada’s latest consumer survey suggests that the negative sentiment in response to tariff-related fears has surpassed even that experienced during the pandemic, leading households to revise down their overall spending plans.”
The Bank of Canada held its key interest rate steady earlier this month as governor Tiff Macklem said the changing trade picture has made producing accurate economic forecasts “challenging.”
The central bank’s key policy interest rate is 2.75 per cent.
Statistics Canada said Friday retail sales in February were lower in four of nine subsectors it tracks, with sales at motor vehicle and parts dealers down 2.6 per cent, including a three per cent drop at new car dealers.
However, core retail sales — which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers — rose 0.5 per cent.
The increase in core sales came as sales at food and beverage retailers gained 2.8 per cent while sales at supermarkets and other grocery retailers, except convenience retailers, gained 3.7 per cent. Wine and liquor retailer sales rose 2.3 per cent.
Sales at general merchandise retailers gained 1.2 per cent, while furniture, home furnishings, electronics and appliances retailers dropped 2.9 per cent.
In volume terms, overall retail sales fell 0.4 per cent in February.
This report by The Canadian Press was first published April 25, 2025.