Statistics Canada announced on Friday that the Canadian retail sales rose 3.6 percent m-o-m to CAD57.61 billion in March, following an unrevised 4.8 percent m-o-m surge in February.

Economists had forecast a 2.3 percent m-o-m gain for March.

According to the report, sales increased in 10 of 11 subsectors in March, accounting for 79.1 percent of total retail sales, led by higher sales at building material and garden equipment and supplies dealers (+19.8 percent m-o-m) and clothing and clothing accessories stores (+23.6 percent m-o-m). Meanwhile, sales at food and beverage stores (-1.3 percent m-o-m) declined. Core retail sales, which excludes gasoline stations and motor vehicle and parts dealers, increased 4.7 percent m-o-m in March after growing 3.8 percent m-o-m in February.

In y-o-y terms, Canadian retail sales climbed 23.7 percent in March, following an unrevised 6.0 percent jump in February.

In the first quarter, retail sales rose 1.8 percent/ This marked the third consecutive quarterly increase in retail sales.