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
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