Canadian retail sales fell -0.6% MoM in January, below the advance estimate of -0.4% MoM, but on an annual basis, sales were up 4.2% YoY (3.9% YoY previously).

• In volume terms, retail sales were down -1.1% MoM.
• Core retail sales (ex-gas and auto) were down -0.2% MoM. Auto sales were down -2.6% MoM, and gas sales were up 3.2% MoM.
• Food & beverage sales fell -2.5% MoM, and sporting goods & hobby sales were down -2.2% MoM.
• The largest increase in core retail sales in January came from furniture, home furnishings, electronics and appliances retailers (+3.0% MoM).
• The advance estimate of retail sales for February is a decline of -0.4% MoM with 61.9% companies surveyed.