Statistics Canada reports that retail sales decreased by 0.3 per cent to $67 billion in January, mainly due to a drop in sales at new car dealers.
The sales at motor vehicle and parts dealers saw a 2.4 per cent decline, marking the first decrease in five months. New car dealers experienced a 3.0 per cent drop, while used car dealers saw a 4.5 per cent increase.
Excluding gas stations, fuel vendors, and motor vehicle and parts dealers, core retail sales increased by 0.4 per cent in January.
The boost in core retail sales was partially driven by higher sales at sporting goods, hobby, musical instrument, book, and miscellaneous retailers, which saw a 3.0 per cent rise.
In terms of volume, retail sales went up by 0.2 per cent in January.
Looking forward, Statistics Canada's preliminary estimate for February suggests a 0.1 per cent increase in retail sales for the month, with a caution that the figure could be revised.
