Canadian retail sales continue rising after pandemic plunge

Canadian retail sales for October came in stronger than expected, rising by 0.4 per cent.

Statistics Canada said Friday that total sales activity for the month hit $54.6 billion, marking the sixth consecutive monthly increase since the record decline in April.

The sales growth was led by motor vehicle and parts dealers, Statistics Canada said. Sales at new car dealers was up 0.8 per cent.

The consensus expectation of economists had been for sales to rise by 0.2 per cent in October, following the 1.1 per cent jump seen in September.

Statistics Canada said its advance outlook for November is that retail activity is expected to remain relatively unchanged.

 

 

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