Canada's retail sales rise 1.4% in January, beating estimates

By Ovunc Kutlu

ISTANBUL (AA) - Canada's retail sales rose 1.4% to $66.4 billion in January, beating market estimates, the country's statistical authority said Friday.

The figure came in much higher than the market expectation of a 0.7% monthly increase, after retail sales rose 0.5% in December.

In January, retail sales increased in seven of nine subsectors, representing 88.7% of retail trade, Statistics Canada said in a statement.

The increase was led by higher sales at motor vehicle and parts dealers that rose 3%, followed by gasoline stations and fuel vendors that saw a 2.9% increase.

Core retail sales, which exclude gasoline stations and motor vehicle and parts dealers, increased 0.5% in January.