Retail Sales Up 0.4% in October

Retail Sales

Retail sales gained 0.4% in October denoting the sixth month in a row the national economy experienced an upward trend dating back to April’s record decline due to the immediate impact of the COVID-19 pandemic and its associated lockdowns.

According to Statistics Canada, the 0.4% gain resulted in $54.6 billion in retail sales for the 10th month of the year. The upswing was led by automotive parts dealers as well as the sale of trucks and buses.

Core retail sales, excluding gas stations and vehicle parts, were up 0.3% amid a 12% sales increase for sporting goods, hobby, books and music stores.

Furniture stores also saw sales increase of almost 7% in October.

@CanBizJournal

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