Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Economy

Canada retail sales grow see grow 0.4% in September led by food and beverage sector

admin by admin
November 22, 2024
in Economy
0
Canada retail sales grow see grow 0.4% in September led by food and beverage sector
0
SHARES
7
VIEWS
Share on FacebookShare on Twitter

In September, Canadian retail sales saw an increase of 0.4%, reaching $66.9 billion, with gains observed across six of nine subsectors. Food and beverage retailers spearheaded this growth.

Core retail sales, which exclude sales from gasoline stations and fuel vendors as well as motor vehicle and parts dealers, rose by 1.4% in the same month. When measured by volume, retail sales experienced an uptick of 0.8%.

The third quarter of the year reported a 0.9% rise in retail sales, and a more pronounced increase of 1.3% when considering volume alone.

After a dip in August, core retail sales rebounded in September, led by a 3.0% rise at food and beverage retailers. Supermarkets and other grocery stores, not including convenience stores, saw a significant recovery with a 3.3% boost in sales after August’s 1.9% fall. Contributing to this sector’s performance were beer, wine, and liquor stores, which, after a three-month slump, marked a 4.4% increase in receipts.

Building material and garden equipment and supplies dealers also reported a 3.0% surge in sales for September.

The only subsector to record a decline in core retail sales was that of clothing and related accessories, which saw a 0.8% drop.

Conversely, gasoline stations and fuel vendors witnessed the most notable decrease in retail sales, down by 2.3% for the fifth consecutive month. However, in volume terms, these sales actually went up by 3.2%.

Motor vehicle and parts dealers also faced a downturn, with a 0.7% decrease in sales, primarily due to lower sales at new car dealers, followed by used car dealers and other motor vehicle dealers. Nonetheless, automotive parts, accessories, and tire retailers reported a positive shift with sales climbing 4.2%.

Retail sales rose in five Canadian provinces in September, with Alberta leading the way with a 2.3% increase, largely fueled by motor vehicle and parts dealers. Quebec saw a modest 0.6% growth, with the Montréal area experiencing a 0.3% uptick. Ontario, however, encountered a slight retrenchment in retail sales by 0.1%, with Toronto’s sales remaining flat.

E-commerce retail sales in Canada also experienced growth, with a seasonally adjusted increase of 3.3% to $4.1 billion in September, making up 6.2% of the total retail trade. This is a slight rise from the 6.0% share recorded in August.

Looking ahead, an advance estimate by Statistics Canada indicates a potential 0.7% rise in retail sales for October. However, this preliminary figure is subject to revision, being based on 58.9% of the survey responses, compared to the 88.9% average final response rate over the past year.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com

Previous Post

Eurozone business activity contracts in November

Next Post

Swiss National Bank Chairman emphasizes flexibility in inflation approach

admin

admin

Next Post
Swiss National Bank Chairman emphasizes flexibility in inflation approach

Swiss National Bank Chairman emphasizes flexibility in inflation approach

Trending News

Errol Musk-backed ‘Musk It’ meme coin eyes $200M funding

Errol Musk-backed ‘Musk It’ meme coin eyes $200M funding

January 31, 2025
US private payrolls surge by 143,000 in September, surpassing expectations

US private payrolls surge by 143,000 in September, surpassing expectations

October 2, 2024
From NTPC to Tata Power: 5 power stocks to watch as India braces for extreme summer

From NTPC to Tata Power: 5 power stocks to watch as India braces for extreme summer

March 6, 2025
Subscribe to Insightful Word


    Recent News

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    August 7, 2025
    Affirm stock price is rising: is it a buy before earnings?

    Affirm stock price is rising: is it a buy before earnings?

    August 7, 2025
    Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    August 7, 2025
    Goldman Sachs boosts Nvidia price target to $200 ahead of Q2 earnings

    Goldman Sachs boosts Nvidia price target to $200 ahead of Q2 earnings

    August 7, 2025

    Recent News

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    August 7, 2025
    Affirm stock price is rising: is it a buy before earnings?

    Affirm stock price is rising: is it a buy before earnings?

    August 7, 2025

    Latest News

    • Dow futures soar 250 points today: 5 things to know before Wall Street opens
    • Affirm stock price is rising: is it a buy before earnings?
    • Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.