Canadian retail sales decline for the second consecutive month in January

FXStreet (Mumbai) - The data released by the Statistics Canada showed today that the Retail sales ex-auto decreased for the second consecutive month in January, declining 1.7%, against the expectation of a 0.4% decline. The previous month’s figure stands at -2.3%. Retail sales in volume terms decreased 1.2%.

Lower sales at gasoline stations represented the majority of the decline. Retails sales Ex-gasoline stations were down 0.8%. Sales at gasoline stations fell 8.8% in January, reflecting lower prices at the pump. This was the seventh straight monthly decrease and the largest monthly decline since November 2008.