Statistics Canada reported on Friday that the Canadian retail sales fell 0.3 percent m-o-m to CAD50.09 billion in January 2019, following a revised 0.3 percent m-o-m drop in December 2018 (originally a 0.1 percent m-o-m decrease). 

The result missed economists’ forecast, suggesting a 0.4 percent m-o-m advance for January. 

According to the report, sales fell in 4 of 11 subsectors, representing 52 percent of retail trade.

The January drop was primarily attributable to lower sales at sales at motor vehicle and parts dealers (-1.5 percent m-o-m). 

Excluding motor vehicle and parts dealers, retail sales edged up 0.1 percent m-o-m in January compared to an upwardly revised 0.8 percent m-o-m decline in December and economists’ forecas of a 0.2 percent m-o-m rise.

In y-o-y terms, Canadian retail sales rose 1.1 percent in January, following an unrevised 1.7 percent rise in December.