Canadian Retail Sales - November 22, 2016
Canadian retail sales rose 0.6 per cent in September, following several months of relatively flat sales. Sales growth was broad based with 7 of 11 sub-sectors reporting higher volumes. Strong retail sales growth in September caps a robust third quarter all around. We are currently tracking third quarter Canadian real GDP growth at 3.7 per cent.
Strong consumer spending continues to drive economic growth In BC. Retail sales increased 0.9 per cent on a monthly basis in September and were 5.7 per cent higher year-over-year. Year-to-date, retail sales are up 6.4 per cent.
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