Renovation Materials Lead Retail Sales Increase

In the month of February, retail sales increased 2.2 per cent to $43.9 billion, says Statistics Canada. Higher sales were reported in 10 of the 19 product categories and, as prices and demand remained high for building supplies amid the pandemic, hardware, tools, renovation, and lawn and garden products continued to experience strong sales growth, increasing 28.1 per cent in February. The majority of the growth within the product category came from renovation material and supplies (26 per cent), led by higher sales of lumber and other renovation materials and supplies (44 per cent). Home appliances saw their 10th consecutive year-over-year increase (30.9 per cent), driven primarily by higher sales of major home appliances (36.4 per cent). Home electronics sales grew 7.3 per cent, largely because of computer, peripherals, and networking equipment, which rose 22.4 per cent over the same month in the previous year.