Monday, May 24, 2010

Cars and auto parts help drive retail sales

OTTAWA—Retail sales increased for a fourth straight month in March, rising 2.1 per cent to $37 billion.

Statistics Canada reports the gain was largely due to higher sales at motor vehicle and parts dealers.

Sales by volume rose 2.2 per cent as retail continued an upward trend that began this year.

Sales increased in 8 of 11 retail subsectors in March and all provinces recorded increases.

The largest contributor to the overall increase was a 3.6 per cent rise at motor vehicle and parts dealers, powered by a 5.5 per cent rise at "other" motor vehicle dealers (motor homes, motorcycles and recreational watercraft).

Automotive parts, accessories and tire stores enjoyed a 4.6 per cent gain while sales at new car dealers rose 3.5 per cent and gas stations were up 2.3.

Sales at building material and garden equipment and supplies dealers increased 6.6 per cent.

Clothing and clothing accessories stores were up 4.4 per cent.

Sales at sporting goods, hobby, book and music stores rose 3.1.

Food and beverage stores edged down 0.1 per cent in March, due primarily to a 4.7 per cent decline at beer, wine and liquor stores.

Retail sales declined for a second consecutive month at furniture and home furnishing stores, falling 0.9 per cent in March.

Newfoundland and Labrador had the highest growth rate among the provinces at 3.1 per cent.