Canada Retail Sales Rise More than Expected in November
Retail sales in Canada rose 0.9 percent from a month earlier in November 2019, rebounding from a downwardly revised 1.1 percent fall in the previous month and beating market expectations of a 0.4 percent increase. It was the largest gain in retail trade since March, driven by higher sales at motor vehicle & parts dealers (+3 percent), led by new car dealers (+2.8 percent); and at food & beverage stores (+0.9 percent), namely supermarkets and other grocery stores (+1.3 percent). Also, sales at building material & garden equipment and supplies dealers went up for the first time in five months (+2.1 percent); and receipts at gasoline stations advanced 0.2 percent, mostly due to higher prices at the pump. Year-on-year, retail trade increased 1.9 percent, after declining a downwardly revised 0.4 percent in October.
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