Investing.com – Core retail sales in Canada were unexpectedly flat in January, official data showed on Tuesday.
In a report, Statistics Canada said core retail sales, which exclude automobile sales, were flat in January, after rising by 0.6% in December.
Analysts had expected core retail sales to rise by 0.7% in January.
The report showed that retail sales fell unexpectedly in January, declining by 0.3%, after falling by 0.2% in December.
Analysts had expected retail sales to rise by 1% in January.
According to the data, the largest decrease in sales was registered by motor vehicle and parts dealers, where sales fell 1.5%. Sales at new car dealers slumped 1.7%, declining for a second consecutive month after seven months of increases.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD adding 0.07% to hit 0.9786.
In a report, Statistics Canada said core retail sales, which exclude automobile sales, were flat in January, after rising by 0.6% in December.
Analysts had expected core retail sales to rise by 0.7% in January.
The report showed that retail sales fell unexpectedly in January, declining by 0.3%, after falling by 0.2% in December.
Analysts had expected retail sales to rise by 1% in January.
According to the data, the largest decrease in sales was registered by motor vehicle and parts dealers, where sales fell 1.5%. Sales at new car dealers slumped 1.7%, declining for a second consecutive month after seven months of increases.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD adding 0.07% to hit 0.9786.