Statistics Canada reported on Thursday that the Canadian retail sales rose 0.8 percent m-o-m to CAD50.09 billion in February, following a revised 0.4 percent m-o-m drop in January (originally a 0.3 percent m-o-m decrease).

The result exceeded economists’ forecast, suggesting a 0.4 percent m-o-m advance for February.

According to the report, sales fell in 5 of 11 subsectors, representing 73 percent of retail trade.

The February advance was primarily attributable to higher sales at general merchandise stores (+3.8 percent m-o-m) and motor vehicle and parts dealers (+1.4 percent m-o-m).

Excluding motor vehicle and parts dealers, retail sales increased 0.6 percent m-o-m in February compared to a downwardly revised 0.6 percent m-o-m decline in January (originally a gain of 0.1 percent m-o-m) and economists’ forecast of a 0.2 percent m-o-m rise.

In y-o-y terms, Canadian retail sales rose 1.8 percent in February, following an unrevised 1.1 percent advance in January.