Statistics Canada reported on Friday that the Canadian retail sales surged 23.7percent m-o-m to CAD52.96 billion in June, following an unrevised 18.7 percent m-o-m jump in May. That was the biggest monthly advance on record.

Economists had forecast a 24.5 percent m-o-m climb for June.

According to the report, sales increased in all 11 subsectors, with growth primarily led by motor vehicle and parts dealers (+53.4 percent m-o-m), as well as clothing and clothing accessories stores (+142.3 percent m-o-m).

Excluding motor vehicle and parts dealers, retail sales rose 15.7 percent m-o-m in June compared to an unrevised 10.6 percent m-o-m advance in May and economists’ forecast for a 15.0 percent m-o-m gain. Excluding motor vehicle and parts dealers and gasoline stations, retail sales increased 15.7 percent m-o-m in June.

In y-o-y terms, Canadian retail sales rose 3.8 percent in June, following an unrevised 18.4 percent tumble in May.

Over the second quarter, retail sales were down 13.3 percent q-o-q.