Investing.com - Core retail sales in Canada rose more than expected in May, while total retail sales figures also topped expectations, official data showed on Thursday.
In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by as seasonally adjusted 0.9% in May, beating expectations for a 0.8% increase. Core sales fell by 0.5% in April, whose figure was revised from a previously reported decline of 0.6%.
Total retail sales increased by a seasonally adjusted 1.0% in May, compared to forecasts for a 0.5% gain, after falling by 0.1% in April.
After steep declines in December and January, retail sales increased for the third time in four months to reach a new high. Sales were up in 9 of 11 subsectors, representing 92% of retail trade.
USD/CAD was trading at 1.2992 from around 1.2971 ahead of the release of the data.