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Economy shows signs of gathering strength

Statistics Canada says retail sales climbed 2.2 percent to $46.0 billion in January


March 21, 2017
The Canadian Press
The Canadian Press

OTTAWA—Signs of strength in the Canadian economy continued to gather momentum as retail sales for January came in better than expected.

Statistics Canada says retail sales climbed 2.2 percent to $46.0 billion in January after declining in December.

Economists had expected a gain of 1.1 percent, according to Thomson Reuters.

The data follows recent stronger-than-expected results for wholesale and manufacturing sales, trade and job creation.

Retail sales in January were up in 10 of 11 sub-sectors, led by motor vehicle and parts dealers, which gained 3.8 percent. Sporting goods, hobby, books and music stores fell 0.1 percent.

Excluding sales at motor vehicle and parts dealers, overall retail sales gained 1.7 per cent in January.

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