Statistics Canada reports retail sales up 0.7% at $72.1B in February

Statistics Canada says retail sales rose 0.7% to $72.1 billion in February as sales at new and used car dealers climbed higher.

The agency says sales were up in seven of nine subsectors, boosted by motor vehicle and parts dealers which rose 1%.

Sales at new car dealers gained 0.7 per cent, while used car dealers added 4%.

Core retail sales, which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers, rose 0.6% in February.

In volume terms, retail sales increased 0.3% in February.

Looking ahead, Statistics Canada says its advance estimate of overall retail sales for March pointed to a gain of 0.6% for the month, though it cautioned the figure would be revised.