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monthly retail sales were softer than expected in March, dragged by lower
gasoline prices, marking the weakest showing in three months.
Sales were unchanged at 39.55 billion Canadian dollars ($38.52 billion), following a 0.7% gain in February, which was revised down from the originally estimated 0.8%, Statistics Canada said Wednesday.
consensus call was for sales to edge up 0.1%, according to a report from Royal
Excluding the auto sector, sales shrank 0.2% on a monthly basis in March following a 0.7% increase the prior month, contrary to an expected 0.1% increase.
But sales volume, which eliminates price changes and feeds into economic output figures, expanded 0.7%, suggesting retail sales made a positive contribution to the month's gross domestic product.
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