Canada February retail sales +0.4% vs +0.4% m/m expected

Canada February retail sales data

• Prior was +0.3% (revised to +0.1%)
• Ex autos 0.0% vs +0.4% expected
• Prior ex autos +0.9% (revised to +1.0%)

The ex-autos number is poor and it comes with a weak CPI reading. All in all, USD/CAD is higher and that’s the right reaction to the numbers.

More details:

• Autos +1.4% m/m
• Furniture -2.0% m/m
• Electronics -0.5% m/m
• Building materials +2.1% m/m
• Food and beverage -0.3% m/m
• Health and personal care -0.3% m/m
• Gasoline stations -0.9% m/m
• Clothing -1.4% m/m
• General merchandise stores +2.0%