Canadian Retail Sales Surge 1.3% to $70.4 Billion in November

Statistics Canada has reported a notable increase in Canadian retail sales, which rose by 1.3 percent in November 2023, bringing total sales to $70.4 billion. This growth follows the resolution of a significant labour dispute in British Columbia that had impacted the province’s liquor distribution sector.

The data indicates that retail sales increased in eight of the nine subsectors monitored by Statistics Canada. The food and beverage sector experienced a particularly strong performance, with sales climbing by 3.0 percent. A remarkable recovery in the sales of beer, wine, and liquor retailers contributed significantly to this growth, as these sales surged by 14.3 percent in November. This rebound followed an 11.8 percent decline in October, a direct consequence of the labour disruptions in British Columbia that affected the sale and distribution of alcoholic beverages.

Core Sales and Future Projections

Core retail sales, which exclude gasoline stations, fuel vendors, and motor vehicle and parts dealers, also saw an increase, rising by 1.6 percent in November. In terms of volume, retail sales climbed by 1.1 percent during the same period.

Looking to the future, Statistics Canada has issued an advance estimate indicating a potential decline in retail sales of 0.5 percent for December. However, the agency cautioned that this figure is subject to revision as further data becomes available.

This report underscores the dynamic nature of the Canadian retail market, particularly in light of the challenges posed by recent labour disputes. As businesses adapt to changing circumstances, stakeholders will continue to monitor trends closely to assess their impact on the economy.