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Canadian Retail Sales (Oct)

Retail sales rose for the sixth consecutive month in October by 0.4% on a seasonally-adjusted basis, which is higher than Statistic Canada's preliminary estimate of no change. Sales were up in 6 of 11 subsectors, representing 50.9% of retail sales. The increase was led by higher sales at auto and parts dealers. Compared to the same time last year, retail sales were up by 7.5%.    

Sales were up in seven provinces in October. In BC, seasonally-adjusted retail sales were up by 2.1% ($8.0 billion) and by 2.8% ($3.7 billion) in Vancouver. Contributing the most to the increase were sales at health and personal care stores. Compared to the same time last year, BC retail sales were up by 11.5%.   

In October, e-commerce sales totaled $3.1 billion, accounting for 5.2% of total retails sales, which is down from 5.6% in the previous month. Meanwhile, e-commerce sales were up by 68% from a year ago. This excludes Canadians purchasing from foreign e-commerce retailers.  
    
Despite the rising cases of COVID-19 and stricter lockdown measures in many provinces, positive retail sales are expected going into the holiday season, especially in e-commerce.    

Link: https://mailchi.mp/bcrea/canadian-retail-sales-oct-december-18-2020 


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