Data released by Statistics Canada just moments ago showed retail sales rising 0.3% in April to $70.1 billion, following a 0.8% increase in March. Expectations were for a 0.4% increase, driven by higher sales in the motor vehicle and parts trade.
Core retail sales, excluding gas stations, fuel retailers, and motor vehicle and parts trade, rose 0.1% in April.
Sales rose in six of the nine subsectors, with the motor vehicle and parts sector leading the increase with a 1.9% increase, marking the second consecutive monthly increase. New vehicle sales rose 2.9%, while gas station and convenience store sales fell 2.7%, marking the second consecutive monthly decline.