Canada Retail Sales Rose 0.7% in November

By Kim Mackrael

OTTAWA--Canadian retail sales rose in November, led by higher sales at gasoline stations.

Retail sales advanced 0.7% in November to a seasonally adjusted 58.08 billion Canadian dollars, or the equivalent of $46.45 billion, Statistics Canada said Friday. Market consensus was for a 1.2% rise in the month, according to economists at TD Securities.

Excluding motor vehicle and parts dealers, retail sales rose 1.1% in November.

In volume, or price-adjusted, terms, November retail sales increased 0.2%.

In the previous month, retail sales rose by 1.5%, compared with an earlier estimate of a 1.6% advance.

Meanwhile, Statistics Canada said its early indicators for retail sales in December suggest a decline of 2.1%. That figure is based on a relatively small proportion of respondents and may be revised.

The November retail sales report showed six out of 11 sectors tracked by the data agency posted higher sales, led by higher sales at gasoline stations. Sales also rose in November for building material and garden equipment and supplies dealers, and at food and beverage stores.

Write to Kim Mackrael at [e-mail]

Corrections & Amplifcations

This was corrected at 9:24 a.m. ET because the original version incorrectly stated Statistics Canada said its early indicators for retail sales in December suggest an increase of 2.1%. The early indicators suggest a decrease.

(END) Dow Jones Newswires

01-21-22 0913ET