Statistics Canada has released Wholesale and Retailer Sale results for March and they were better than anticipated  Wholesales sales rose 1.4% during March which is the fastest increase since October 2018 and the fourth straight monthly gain. Retail sales rose 1.1% boosted by higher sales at gas stations, building materials, garden equipment, and supplies. 

Sales at gasoline stations increased by 6.0% in March, mostly dues to higher prices at the pump. Volume of sales was relatively unchanged from February. Building material and garden equipment and supplies dealers increased sales 4.3% in March.

The solid wholesale print is further evidence — along with stronger trade, retail and jobs data — that Canada’s economy is returning to strength after struggling in recent months. It all points to the economy returning to faster rates of growth in coming months.

Motor vehicle and parts were the only category where both wholesale and reatials sales recorded a drop. Excluding the auto sector wholesales increased by 2.2% in March and retail sales increased by 1.7%.

Source: Financial Post
Source: Financial Post