MNI: 5 Things We Learned From Canadian Retail Sales Data>

     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 

provinces. 

     - The auto and parts sector led the increase, with a 3.3% monthly 

gain, the largest since February 2016, while gasoline station receipts 

fell 0.6%. 

     - 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: yali.ndiaye@marketnews.com 

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