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Jan 16, 2023

Renovation Materials Lead Home Improvement Sales

Retail sales reached $62.7 billion in October, an increase of 5.1 per cent compared with the same month in 2021, with higher sales in 14 of the 19 commodity classes, says Statistic Canada’s October 2022 ‘Retail Commodity Survey.’ The largest contributor to the increase in dollar terms came from higher sales of automotive and household fuels (+24.9 per cent). Sales of hardware, tools, and renovation and lawn and garden products were up 3.2 per cent for the month. Higher sales were posted in every subclass with the bulk of the increase coming from higher sales of renovation materials and supplies (+2.8 per cent). The largest decrease in dollar terms came from the class of home furniture, furnishings, housewares, appliances, and electronics (down four per cent). The largest contributors to the decline came from lower sales of indoor home furniture (-11.9 per cent) and home appliances (-8.8 per cent). Slightly offsetting the declines were higher sales of housewares (+4.9 per cent).

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