Canadian retail sales were flat in March. Higher sales were reported in 6 of the 11 retail sub-sectors. Inflation adjusted sales rose 0.7 per cent. First quarter retail sales increased just 1 per cent over the first quarter of 2012.
Retail sales in BC continued to slump in March, rising just 0.9 per cent on a monthly basis and declining 0.1 per cent year-over year. For the first quarter, BC retail sales are 0.4 per cent lower than the first quarter of 2012. Slower employment growth and high debt burdens are likely taking a toll on household spending this year. However, an expected acceleration in economic growth in the second half of the year should spur faster job growth and higher consumer spending.
Copyright BCREA - reprinted with permission
No comments:
Post a Comment