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OTTAWA (MNI) - The following are the key points from the October
data on Canadian retail sales released Thursday by Statistics Canada:
- Total sales rose 1.5% on the month, beating analysts'
expectations of a 0.5% gain in a MNI survey. This was the largest gain
since January 2017. Sales reached record C$49.9 billion in October,
lifting the 12-month growth rate to 6.7% from 6.5%.
- Gains were widespread with 7 of 11 subsectors recording higher
sales, representing 79% of retail trade. Sales also rose in all
- The auto and parts sector led the increase, with a 3.3% monthly
gain, the largest since February 2016, while gasoline station receipts
- Excluding autos and parts, retail sales rose 0.8%, also beating
expectations of a 0.3% increase. Excluding gas, sales rose 1.7%.
Excluding autos and gas, sales were up 1.1%.
- Sales volumes, more relevant to real GDP, were up 1.4% on the
month after declining 0.5% in September.
--MNI Ottawa Bureau; email: firstname.lastname@example.org