Canadian retail sales remained largely unchanged at $67.6 billion in November from the previous month. Compared to the same time last year, retail sales are up by 1.6 per cent. Furthermore, core retail sales, which exclude gasoline and automobile items, fell by 1.0 per cent month-over-month. In volume terms, adjusted for rising prices, retail sales were down 0.4 per cent in November. 

Retail sales in British Columbia were up 0.4 per cent in November month-over-month and up 0.9 per cent compared to the same time last year. In the CMA of Vancouver, retail sales were up 0.4 per cent from the prior month and November 2023.

November's retail sales are highlighted by a notable drop in core sales following a modest recovery over previous months. The Bank of Canada remains braced for a 25-point cut next week and hopes to see its effects transmit into stronger Canadian retail spending in the first quarter of 2025.

Copyright British Columbia Real Estate Association. Reprinted with permission.