Statcan declares retail sales continued to climb in March after edging down in February, capping the strongest quarterly gain in four years.
Retail sales increased by 1.5 percent in March from the previous month to reach a record high of $32.1 billion. March's advance boosted this year's first quarter results up 2.2 percent over those of the previous three-month period.
Almost all types of retailers enjoyed record sales this quarter. Excluding auto retailers, sales in the first quarter of 2006 were also up 2.2 percent.
Though March was a positive month for most retailers, the automotive sector was responsible for the bulk of the increase. Sales in this sector bounced back from February's decline and jumped 3.3 percent in March, the largest monthly increase since the incentive-driven peak of last summer.
Excluding sales by dealers of new, used and recreational vehicles and auto parts, retail sales rose by 0.7 percent from February, the fourth consecutive monthly sales increase among non-auto retailers.
With the exception of food and beverage stores (-0.1 percent), all retail sectors saw sales increases in March.
The clothing and accessories stores sector continued to grow strongly (+1.7 percent) as did the pharmacies and personal care stores sector (+1.0 percent). Sales growth lso occurred among miscellaneous retailers (+0.7 percent), general merchandise stores (+0.5 percent) and furniture, home furnishings and electronicsstores (+0.3 percent).
Once price increases are taken into account, retail sales grew by 1.2 percent in March after increasing 0.2 percent in February.
marketing@alchempro.com
