Investing.com – Core retail sales in Canada rose more-than-expected in February, official data showed on Thursday.
In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.7% in February, after falling by -0.2% in January, whose was figure was revised down from a flat reading.
Analysts had expected core retail sales to rise by 0.5% in February.
The report showed that retail sales rose less-than-expected, increasing by 0.4%, after declining by -0.4% in January, whose figure was downwardly revised from a decline of -0.3%. Analysts had expected retail sales to rise by 0.6% in February.
According to the data, higher sales were reported in 9 of 11 subsectors.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.21% to hit 0.9506.
In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.7% in February, after falling by -0.2% in January, whose was figure was revised down from a flat reading.
Analysts had expected core retail sales to rise by 0.5% in February.
The report showed that retail sales rose less-than-expected, increasing by 0.4%, after declining by -0.4% in January, whose figure was downwardly revised from a decline of -0.3%. Analysts had expected retail sales to rise by 0.6% in February.
According to the data, higher sales were reported in 9 of 11 subsectors.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.21% to hit 0.9506.