Statistics Canada Reports Retail Sales Down in January as New Car Sales Fell

Statistics Canada says retail sales fell 0.3 percent to $67 billion in January as sales at new car dealers dropped. Overall retail sales were down in three of nine subsectors as sales at motor vehicle and parts dealers fell 2.4 percent, the group’s first decline in five months. Sales at new car dealers fell 3.0 percent, while used car dealers gained 4.5 percent. The agency says core retail sales—which exclude gas stations and fuel vendors, and motor vehicle and parts dealers—rose 0.4 percent in the first month of 2024. The increase in core retail sales came in part from higher sales at sporting goods, hobby, musical instrument, book, and miscellaneous retailers which saw a 3.0 percent increase....