Statistics Canada says retail sales rose 0.5% to $62.1-billion in December. In volume terms, retail sales increased 1.3 per cent in December.

Sales grew in seven of 11 subsectors in December, representing 75.1% of retail trade. Statistics Canada says higher sales at motor vehicle and parts dealers, up 3.8 %, and general merchandise stores, up 1.7%, led the increase.

Overall core retail sales, which exclude gasoline stations and motor vehicle and parts dealers, were up 0.4% in December. Building material and garden equipment and supplies dealers posted the largest decline to core retail sales with a decline of 3.8%. Sales declined for four consecutive months amidst higher interest rates and deteriorating housing market conditions.

The federal agency’s preliminary estimate for January suggests Canadian consumers continued spending in the new year, with early figures indicating sales increased 0.7%.

Source: Globe and Mail
Source: The Star
Source: Statistics Canada