The value of retail sales in Newfoundland and Labrador increased by 8.7% in February 2024, compared to February 2023.
The largest gains in the value of retail sales in February occurred in ‘Motor vehicle and parts dealers’ (+18.2%), ‘Building material and garden equipment and supplies dealers’ (+43.1%) and ‘General merchandise retailers’ (+12.0%). Losses occurred in ‘Gasoline stations and fuel vendors’ (-16.2%).
The higher value of sales in ‘Motor vehicle and parts dealers’ (+18.2%) is in line with an increase in new motor vehicle unit sales, up 30.9% in February 2024. The ‘Motor vehicle and parts dealers’ category includes new and used car sales, as well as parts and service labour.
On a year-to-date basis, retail sales increased by 4.6% in the January and February 2024 period, relative to the same period in 2023.
At the national level, retail sales increased by 4.8% in February 2024 compared to February 2023, and increased by 3.4% on a year-to-date basis. Retail sales increased in every province in February 2024, ranging from 1.2% in Prince Edward Island to 8.7% in Newfoundland and Labrador.
Statistics Canada’s Daily discusses retail sales on a seasonally adjusted basis. Seasonally adjusted retail sales for Newfoundland and Labrador increased by 3.5% in February 2024 compared to January 2024, and decreased by 0.1% for Canada.
| Retail Sales by Trade Group ($ Millions) | ||||
|---|---|---|---|---|
| Newfoundland and Labrador | ||||
| Feb 2023 | Feb 2024 | Actual Change | Percent Change | |
|
Motor vehicle and parts dealers1
|
209.9 | 248.1 | 38.2 | 18.2% |
| Building material and garden equipment and supplies dealers | 32.7 | 46.8 | 14.1 | 43.1% |
| Food and beverage retailers | 162.3 | 170.5 | 8.2 | 5.0% |
| Furniture, home furnishings, electronics and appliances retailers | 17.6 | 18.5 | 0.9 | 5.2% |
| General merchandise retailers | 111.0 | 124.2 | 13.3 | 12.0% |
| Health and personal care retailers | 59.4 | 66.4 | 7.0 | 11.9% |
| Gasoline stations and fuel vendors | 120.9 | 101.3 | -19.5 | -16.2% |
| Clothing, clothing accessories, shoes, jewelry, luggage and leather goods retailers | 15.3 | 15.7 | 0.4 | 2.5% |
| Sporting goods, hobby, musical instrument, book, and miscellaneous retailers | 24.4 | 27.4 | 3.0 | 12.4% |
|
Total Retail Trade Sales
|
753.5 | 819.0 | 65.5 | 8.7% |
| Note: The total and change may not sum due to independent rounding.
1 The motor vehicle figure displayed here includes some used car sales, as well as parts and service labour, and may be higher than those appearing in the New Motor Vehicle Sales Bulletin. Source: Statistics Canada. Table 20-10-0056-01. |
||||
Statistical Reference: For the latest in retail trade statistics visit the Newfoundland & Labrador Statistics Agency site and check the release dates on Statistics Canada site.