Retail Sales Up 0.9% in November

Retail image - cart

CBJ — Retail sales moved up 0.9% in the month of November according to figures released by Statistics Canada due largely to a 3% uptick in automotive sales and parts.

Excluding motor vehicle and parts dealers, retail sales were up 0.2% for the month.

Earlier this week the Bank of Canada opted to leave its overnight trendsetting rate at 1.75%.

Governor Stephen Poloz says the central bank will be keeping a close eye on consumer spending, the housing market and business investment.

Statistics Canada reports that retail sales were up in six of 11 sub-sectors, representing 70% of retail trade.

@CanBizJournal

 

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