Statistics Canada says retail sales up 1.4% in January
Statistics Canada said retail sales rose 1.4% to $66.4 billion in January, helped by profits from motor vehicle and parts dealers as well as gas stations.
The results beat the agency’s initial estimate for the proposed month of a 0.7 percent increase in the first month of 2023.
However, Statistics Canada said its initial estimate for February showed a decline of 0.6 percent for the month, although the agency warned that the figure would be revised.
In January, sales at motor vehicle and parts dealers increased 3.0%, led by higher sales at new auto dealerships which increased 3.0%. Meanwhile, sales at gas stations and fuel suppliers rose 2.9% as volume sales fell but gasoline prices rose.
Core retail sales – excluding gas stations and fuel suppliers as well as motor vehicle and parts dealers – rose 0.5% on the month.
In terms of volume, retail sales rose 1.5% in January.
This Canadian Press report was first published on March 24, 2023