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Manitoba’s retail sector failed to cash in on warm weather

By: Staff Writer

Wednesday, May. 23, 2012 at 11:32 AM | Comments: 0

WINNIPEG — Manitoba’s retail sector failed to cash in on the unseasonably warm weather in March, according to new retail sales figures released today.

Statistics Canada said warmer than usual weather, especially in Ontario, helped to boost Canadian retail sales by 0.4 per cent to $39.1 billion in March.

But it was a different story in Manitoba. Despite some record-high temperatures here, retail sales declined by 0.6 per cent to $1.38 billion from $1.39 billion in February.

It was the second biggest monthly decline after New Brunswick’s 1.5 per cent, and the third consecutive month of weaker sales for Manitoba’s retail sector.

Manitoba also tied with Nova Scotia for the second smallest year-over-year increase in retail sales, at 1.4 per cent. Canada’s March-over-March increase was 4.1 per cent.

Nationally, StatsCan said the unusually warm weather experienced in March prompted consumers to jump the gun on buying spring merchandise, including clothing, footwear, bicycles as well as lawn and garden products.

It said four provinces reported higher retail sales in March, with most of the gains in Ontario, which showed an increase for the fourth time in five months. Excluding Ontario’s 1.2 per cent increase, total retail sales were flat.

TD economist Leslie Preston said the increase in March offset a four per cent decline in February.

Preston also noted retail sales, on the whole, have been running at four per cent increases for about a year — down from the six to seven per cent pace that was evident before the 2008-9 recession.

"The current more modest pace is in line with lacklustre household income growth and the continued expansion of the household debt burden, which leave less room in the budget for spending elsewhere," Preston said in a research note.

murray.mcneill@freepress.mb.ca

— with files by Canadian Press

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