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Statistics Canada Says Retail Sales Fell 0.4 Percent to $69.3B in February

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Statistics Canada says retail sales dropped 0.4 percent to $69.3 billion in February as sales fell at new car dealers.

The agency says results were lower in four of nine subsectors it tracks, with sales at motor vehicle and parts dealers down 2.6 percent, including a 3.0 percent drop at new car dealers.

Core retail sales—which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers—rose 0.5 percent.

The increase in core sales came as sales at food and beverage retailers gained 2.8 percent.

In volume terms, overall retail sales fell 0.4 percent in February.

Looking ahead, Statistics Canada says its early estimate suggests retail sales increased 0.7 percent in March, though it cautioned the figure would be revised.

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