Canada Retail Spending Keeps Growing In December
Feb 22, 2006
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Retail consumer spending in Canada grew for a third consecutive month in December 2005, although at a considerably slower pace than November. Canada’s central statistical agency, Statistics Canada, said that retail trade grew 0.3 percent in December from the previous month to a record Canadian $31.2 billion (approx. U.S. $27.1 billion). This came on the heels of increases of 1.0 percent in November and 0.5 percent in October.

Higher sales were reported in five of the eight retail sectors in December. December spending increase was 1.0 percent in the furniture, home furnishings and electronics stores sector. Spending also increased by 1.0 percent in the general merchandise store sector.

Statistics Canada said that for the year as a whole, annual retail sales growth to its highest rate since 2002, largely driven by higher automotive sector sales.

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