Canada retail sales was flat mom in March, worse than expectation of 1.5% mom rise. Sales were up in 10 of 11 subsectors, led by gasoline (up 7.4%). However, sales at motor vehicle and parts dealers (-6.4%) erased the gains observed in the remaining subsectors.
For Q1 as a whole, sales were up 3.0%, largest quarterly rise since Q3 of 2020. Preliminary data indicates sales rose 0.8% mom in April.
