Canada Retail Sales Drop Slightly In March

Canadian retail sales fell in March on weaker demand for cars and clothes, Statistics Canada said Thursday.

Retail sales in March declined 0.1% to 41.07 billion Canadian dollars ($37.63 billion), or weaker than market expectations for a 0.3% gain, according to economists at Royal Bank of Canada.

In volume terms, sales fell 0.2%.

Excluding motor vehicle and auto parts sales, retail sales climbed 0.1%, to C$31.66 billion.

On a year-over-year basis, retail sales rose 3.9%.

via Nasdaq

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza