The Globe and Mail reports in its Saturday edition that according to Statistics Canada, a decline in new car sales contributed to a 0.3-per-cent decrease in retail sales, which totalled $67-billion in January. A Canadian Press dispatch to The Globe reports that Statscan reported that of the nine subsectors it tracks, three experienced a decline in sales, with motor vehicle and parts dealers recording a 2.4-per-cent drop, marking the first decrease in five months for this category. Sales at new car dealers fell by 3 per cent, while used car dealers saw a 4.5-per-cent increase in sales. Despite the decline in retail sales, economists noted that January had a positive highlight: core retail sales that exceeded their expectations. Core retail sales increased by 0.4 per cent in January. The rise was mainly due to higher sales at sporting goods, hobby, musical instrument, book and miscellaneous retailers, which saw a 3-per-cent increase. TD economist Maria Solovieva says, "This indicates a solid momentum in spending." The momentum is partly due to what Ms. Solovieva calls a "wealth effect," where recent gains in the financial markets and lower growth in liabilities have raised Canadian households' wealth.