Canada Retail Sales Increase 0.7 Percent in February
Canadian retail sales grew to 72.06 billion dollars in February led by gains in the motor vehicle sector. Early estimates suggest a further 0.6 percent rise.
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Consumer spending in Canada showed resilience through the first quarter of the year, as retail sales climbed 0.7% in February to reach C$72.06 billion ($52.68 billion). According to data released by Statistics Canada on Friday, the growth was primarily driven by increased activity at motor vehicle and parts dealers. While the February figure slightly trailed the 0.9% increase anticipated by analysts, it followed a robust 1.1% gain recorded in January.
