Commenting on this week’s retail sales data from Canada, National Bank of Canada analyst Jocelyn Paquet noted that increased spending at auto dealers and gasoline stations were the primary reason behind the upbeat data. Key quotes “On a less positive note, sales of electronics and appliances continued to contract and are now 3.6% below their level a year ago. The two other categories most closely associated with the housing market – furniture and building materials – were also showing year-on-year declines in sales, which suggests the current slowdown in the housing sector is affecting consumer spending.” “Total retail volumes, meanwhile, advanced 0.2% in the second month of the year, a result which will go some way towards offsetting earlier-reported declines in manufacturing and provide some support to February GDP. That said, there were sharp downward revisions to January’s result (from +0.0% to -0.3%), which means that, even after February’s gains, Q1 real consumption retail volumes are on track to contract for second consecutive quarter. That said, given the resilience of the labour market, we continue to believe things should get better in the coming months.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin Cash Technical Analysis: BCH/USD bullish breakout eyed FX Street 4 years Commenting on this week's retail sales data from Canada, National Bank of Canada analyst Jocelyn Paquet noted that increased spending at auto dealers and gasoline stations were the primary reason behind the upbeat data. Key quotes "On a less positive note, sales of electronics and appliances continued to contract and are now 3.6% below their level a year ago. The two other categories most closely associated with the housing market - furniture and building materials - were also showing year-on-year declines in sales, which suggests the current slowdown in the housing sector is affecting consumer spending." "Total retail volumes, meanwhile,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.