Daily Update (Source: RBC Financial Group
Canadian October retail sales hold steady in the month
Dec 19, 2014
- Nominal retail sales in October 2014 were unchanged in the month following an outsized 0.8% jump in September.
- Sales in October were restrained by activity at motor vehicle dealerships dropping by 0.6% in the month and gas station receipts falling by 1.1%.
- Excluding the auto and gasoline station components, so called core sales rose by a solid 0.4% after a 0.1% rise in September.
- On a volumes basis, overall retail sales in October were unchanged following a 0.9% surge in September.
The volume of retail sales in October remaining unchanged is on the surface disappointing, although it needs to be read in conjunction with the massive jump in sales in September. That earlier increase along with the expectation that monthly retail sales volumes will
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