Canada: Retail Sales rise by 3.2% in January

Headline Canadian Retail Sales rose at a pace of 3.2% MoM in January, much stronger than the expected 2.4% gain, marking a strong rebound from December’s Omicron Covid-19 variant induced drop of 1.8% MoM, data released by Statistics Canada showed on Friday. Retail Sales excluding autos also saw stronger than expected growth of 2.5% MoM versus expectations for 2.4% growth. That came after a 2.5% decline in December.