MNI BRIEF: Canada Retail Sales Wobbly After Re-Opening

Canadian retail sales fell 0.6% in September and a flash estimate showed a 1% increase for October, extending a see-saw pattern seen since most stores began re-opening earlier this year.

Sales deflated back to 2012 dollars have been flat for about a year now, even with Covid shutting less than 1% of stores for the last three months. That's running counter to the Bank of Canada's prediction that consumers flush with cash from pandemic relief checks would power the economy.

The September weakness was partly linked to a shortage of microchips that fed a 2.8% fall at new car dealers, Statistics Canada said Friday, though sales fell in seven of 11 major categories.