Investing.com - Core retail sales in Canada rose less-than-expected in February, while total retail sales declined for the first time in six months, official data showed on Tuesday.
In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.5% in February, below expectations for a 1.0% increase.
January’s figure was revised to decline of 0.8% from a previously reported 0.5% drop.
Core retail sales rose at an annualized rate of 2.6% in February after climbing at a rate of 3.1% in January.
Total retail sales fell by a seasonally adjusted 0.2% in February, confounding expectations for a 0.2% increase. Retail sales in January were revised to a 0.2% gain from a previously reported 0.5% increase.
Year-on-year, retail sales rose at an annualized rate of 4.1% in February after advancing at a rate of 4.7% in January.
Lower sales were reported in 5 of 11 subsectors, representing 57% of total retail sales.
Following the release of the data, the Canadian dollar held on to mild gains against its U.S. counterpart, with USD/CAD easing down 0.06% to trade at 0.9908.
In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.5% in February, below expectations for a 1.0% increase.
January’s figure was revised to decline of 0.8% from a previously reported 0.5% drop.
Core retail sales rose at an annualized rate of 2.6% in February after climbing at a rate of 3.1% in January.
Total retail sales fell by a seasonally adjusted 0.2% in February, confounding expectations for a 0.2% increase. Retail sales in January were revised to a 0.2% gain from a previously reported 0.5% increase.
Year-on-year, retail sales rose at an annualized rate of 4.1% in February after advancing at a rate of 4.7% in January.
Lower sales were reported in 5 of 11 subsectors, representing 57% of total retail sales.
Following the release of the data, the Canadian dollar held on to mild gains against its U.S. counterpart, with USD/CAD easing down 0.06% to trade at 0.9908.