Canadian retail sales bounced back from a disappointing December, rising 2.1 per cent in January. Sales growth was broad-based with 7 of 11 subsectors reporting higher sales. Given strong economic data to start 2016, first quarter real GDP growth in Canada is tracking at about 1.9 per cent, a significant improvement from just 0.8 per cent growth in the fourth quarter of 2015.
In BC, retail sales grew 2.8 per cent on a monthly basis and were up a blistering 9 per cent compared to January 2015. The BC economy is off to a very strong start in 2016, with growth in the early months tracking at more than 3 per cent on an annualized basis.
Copyright BCREA – reprinted with permission