Canada retail sales rose 3.2% mom to CAD 58.9B in January, better than expectation of 2.4% mom. The increase was led by higher sales at motor vehicle and parts dealers (+5.3%), as sales at new car dealers (+5.5%) rebounded.
Sales were up in 9 of 11 subsectors, representing 85.5% of retail trade. Core retail sales—which exclude gasoline stations and motor vehicle and parts dealers—increased 2.9%.
In the advance estimate, retail sales dropped -0.5% mom in February.
