B.C. retail growth in January compared with the same month a year earlier was slightly higher than the national average, according to Statistics Canada data released Friday.
B.C. retail sales increased 4.8% to $5.632 billion from $5.032 billion in January 2011. Across Canada, January retail sales increased 4.7% to $38.899 billion from $38.718 billion in January 2011.
Motor vehicle and parts dealers led the way nationwide with 11.7% growth to $9.01 billion in sales. That compares with $8.069 billion in sales in January 2011.
New cars were the strongest segment in that category. Sales rose 12.9% to $7.321 billion in January from $6.486 billion in January 2011.
Economists project that new cars sales will continue to be strong throughout 2012 (see "New vehicle sales set to rise: Central 1" – BIV Business Today, March 22).
Fuelling those sales locally will be the upcoming Vancouver International Auto Show, which is predicted to attract record numbers of visitors (see "Upcoming Auto Show likely to set attendance records" – BIV Business Today, March 20.)
The next strongest retail sectors nationwide were clothing and clothing accessories, which increased 6.9% to $2.215 billion from $2.073 billion, and gasoline stations, which increased sales 5.3% to $4.821 billion from $4.578 billion.
