Canadian April retail sales rise to record high
OTTAWA (Reuters) - Canadian retail sales beat expectations in April, rising 1.1 percent from March in the strongest gain in 11 months to an all-time record C$41.62 billion ($38.54 billion), according to Statistics Canada data on Friday.
The agency also revised March's figure to a 0.1 percent rise from a 0.1 percent fall.
The median forecast in a Reuters survey of economists was for a 0.6 percent rise. Auto sales led the surge.
The volume of sales, relevant for real growth in gross domestic product, rose by 0.8 percent. Statscan had earlier reported a 1.2 percent rise in wholesale trade and a 0.1 percent fall in manufacturing sales for April.
(Reporting by Randall Palmer; Editing by Bernadette Baum)
© Thomson Reuters 2016 All rights reserved.