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Canada core retail sales rise 0.5% in January

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Investing.com - Core retail sales in Canada rose more-than-expected in January, while total retail sales figures were in line with forecasts, official data showed on Thursday.

In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.5% in January, compared to expectations for a 0.4% increase.

December's figure was revised down to a 1% decline from a previously reported fall of 0.9%.

Total retail sales rose by a seasonally adjusted 1% in January, in line with expectations, after tumbling by 2.3% in December.

Following the release of the data, the Canadian was higher against its U.S. counterpart, with USD/CAD shedding 0.52% to trade at 1.0207.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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