Canada's retail sales rise 0.9% to $67.3B in December

By Ovunc Kutlu

ISTANBUL (AA) - Canada's retail sales rose 0.9% to reach $67.3 billion in December 2023, the country's statistical authority said Thursday.

The market expectation for the figure was to show a gain of 0.8%, while retail sales fell 0.2% in November.

In December, sales were up in five of nine subsectors, led by increases at motor vehicle and parts dealers with a gain of 1.9%, Statistics Canada said in a statement.

"Retail sales were up 1.0% in the fourth quarter of 2023, marking a second consecutive quarterly increase," it said. "In 2023, retail sales increased 2.2%."

Core retail sales, which exclude gasoline stations and motor vehicle and parts dealers, were up 0.5% in December, following a 0.5% decrease in November.

The gain in core retail sales during December was led by general merchandise retailers that rose 2.8%, followed by food and beverage retailers with a gain of 1.5%, according to the agency.