Canada retail sales dropped -0.5% mom to CAD 61.1B in September. Sales declined in 7 of 11 subsectors, led by sales at gasoline stations (-2.4%) and food and beverage stores (-1.3%). Excluding gasoline and auto, sales contracted -0.4%mom. IN volume terms retail sales also declined -0.1% mom.
For Q3, sales were down -1.0% qoq, the first quarterly decline since Q2 of 2020. In volume terms, sales were down -1.4% qoq in Q3.
According to advance estimate, sales rose 1.5% mom in October.
