BRITISH COLUMBIA – Canadian retail sales increased by 0.7 per cent to $72.1 billion in February compared to the previous month. Retail sales were 3.8 per cent higher compared to the same time last year. Furthermore, core retail sales, which exclude gasoline and automobile items, increased by 0.6 per cent in February. In volume terms, adjusted for rising prices, retail sales were up 0.3 per cent in February.
Retail sales in British Columbia were down 0.4 per cent in February month-over-month and rose by 3.1 per cent compared to the same time last year. In the CMA of Vancouver, retail sales were down 1.2 per cent from the prior month and were 2.6 per cent above the level of February 2025.
February’s print marks a second consecutive month of strong retail activity, contrasting sharp drawdowns seen in the labour market to begin the year. Growth was fairly broad-based, with seven of nine subsectors increasing month-over-month, driving a second straight increase in core retail sales.
We expect a fourth consecutive rate hold from the Bank of Canada next week, but also clarity on how the Bank sees the balance of risks between weak economic conditions and inflationary pressures from the ongoing oil price shock.
Source: bcrea.bc.ca
