Canadian retail sales increased by 0.8 per cent to $69.8 billion in March compared to the previous month. Compared to the same time last year, retail sales were up by 5.6 per cent. Furthermore, core retail sales, which exclude gasoline and automobile items, rose by 0.2 per cent month-over-month. In volume terms, adjusted for rising prices, retail sales increased by 0.9 per cent in March. Retail activity was up 1.2 per cent in the first quarter of 2025, while rising by 0.2 per cent in volume terms.

Retail sales in British Columbia were up 0.3 per cent in March from the previous month and rose by 4.7 per cent compared to the same time last year. In the CMA of Vancouver, retail sales were up 0.7 per cent from the prior month and were 6.4 per cent above the level of March 2024.

March's report marks the fourth consecutive quarterly increase in retail activity across the country. However, this report is unlikely to sway the Bank of Canada regarding its policy rate decision during its next meeting.  As global uncertainties continue casting shadows on the economy, economists will closely monitor next week's GDP report as an indicator of which direction the Bank of Canada will take in June. 

https://mailchi.mp/bcrea/canadian-retail-sales-march-2025

For more information, please contact: Gino Pezzani.