Consumer weakness looks to have extended through the first quarter, with retail spending in Canada declining for a second consecutive month in February. Seasonally adjusted sales fell 0.1 per cent with real spending down 0.3 per cent. Five out of nine subsectors saw lower sales, with spending on discretionary items showing more signs of retrenchment in demand.
In contrast, B.C. spending outperformed with a 1.2-per-cent gain to fall just short of $9 billion in sales. In February, unadjusted retail sales—when compared to February 2023 unadjusted sales—were up by 5.7 per cent. Seven out of the nine subsectors saw higher year-over-year unadjusted February sales. That said, motor vehicle and parts dealers led the increase with a 14.3-per-cent........