Home Economy Retail sales rise in December as consumers spend

Retail sales rise in December as consumers spend

by SuperiorInvest

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Canadian consumers continued to spend during the holiday season, boosting retail sales in December, suggesting the economy still has steam left.

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Statistics Canada said on January 20 that preliminary data showed retail sales increased 0.5 percent in the last month of the year. Sales fell 0.1 percent in November.

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Vehicle sales helped moderate a drop in November, rising 1.4 percent as supply chain disruptions eased. But excluding those and gas station purchases, core retail sales fell 1.1 percent, the biggest drop in 11 months.

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