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Retail Sales Soar in January

Cash registers in this country sang a merry tune to begin 2017, according to figures released Tuesday morning by Statistics Canada.

The agency says retail sales rose in January by 2.2% from December to $45.95 billion, pushed up by motor vehicle and parts dealers.

The 2.2% increase topped economists' expectations for a gain of 1.1% , while volumes were also robust, up 1.3% January's increase was the largest since March 2010.

The motor vehicle and parts industry rose 3.8%, making for the fourth gain in five months as sales rose at new and used car dealers.

Sales rose in 10 of 11 sub-sectors, representing 98% of retail trade. In volume terms, retail sales increased by 1.3%.