Canada’s retail sales rose by 0.4% mom in September to CAD 66.9B, slightly above market expectations of a 0.3% mom increase. Gains were observed in six out of nine subsectors, with food and beverage retailers leading the growth.
Core retail sales, which exclude gasoline and motor vehicle-related sectors, surged by a robust 1.4% mom, highlighting strength in consumer discretionary spending.
For Q3, retail sales climbed 0.9%, with a 1.3% increase in volume terms, suggesting solid economic activity during the period.
The advance estimate for October indicates a further 0.7% mom rise, reinforcing signs of resilience in consumer demand.
