Statistics Canada released retail sales data on Friday. Canadian retail sales climbed by 0.4% in February, beating expectations for a 0.8% drop, after a 2.0% increase in January. January's figure was revised down from a 2.1% rise.

The increase was driven by rises in 9 of 11 subsectors.

Sales at motor vehicle and parts dealers rose by 1.0% in February, while sales at general merchandise stores increased by 1.9%.

Sales at gasoline stations declined 4.9% in February, while sales at food and beverage stores were up 0.2%.

Sales at building material and garden equipment and supplies dealers increased 1.3% in February, while sales at furniture and home furnishings stores rose 1.9%.

Canadian retail sales excluding automobiles rose 0.2% in February, beating expectations for a 0.5% fall, after a 1.3% increase in January. January's figure was revised up from a 1.2% gain.