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Dec 21, 2022

Retail Sales Post Large Increase

Retail sales increased 1.4 per cent to $62 billion in October, posting its largest increase in five months, says Statistics Canada. Sales were up in six out of 11 subsectors, representing 84.4 per cent of retail trade. The increase was led by higher sales at gasoline stations (+6.8 per cent) and food and beverage stores (+2.2 per cent). Core retail sales – which exclude gasoline stations and motor vehicle and parts dealers – increased 0.9 per cent. In volume terms, retail sales were unchanged. Sales at building material and garden equipment and supplies dealers increased 5.9 per cent in October to $4.1 billion and sales at home furnishings stores were down 2.7 per cent to $691 million. Retail sales increased in nine provinces in October, led by higher sales in Quebec (+2.6 per cent).

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