Retail Sales Up 0.9% in November
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.