Tausi Insider

Shoppers at the Toronto Eaton Centre, on July 18. Fred Lum/the Globe and Mail Retail sales fell 0.5 per cent to $61.1-billion in September led by a drop in sales at gas stations along with food and beverage stores, Statistics Canada said Tuesday. However, the agency said its initial estimate for October pointed to a gain of 1.5 per cent for the month, though it cautioned the figure would be revised. “Retail sales fell in September; though the drop was smaller in volume terms, real spending took a notable step back in the third quarter,” BMO economist Shelly Kaushik wrote in a report. “However, solid advance estimates for retail and manufacturing sales, as well as wholesale trade, point to a recovery in October.” For September, Statistics Canada said sales at gas stations fell 2.4 per cent as sales in volume terms at gas stations rose 4.2 per cent, but gas prices fell 7.4 per cent. Meanwhile, sales at motor vehicle and parts dealers were relatively unchanged as sales at used car deale...

People walk through Yorkdale Mall, in Toronto, on Nov. 26, 2021. Tijana Martin/The Canadian Press Canadian retail sales edged down in November amid a broad consumer spending pull back as the rising cost of living continued to erode purchasing power. Statistics Canada said Friday retail sales dropped 0.1 per cent to $61.8-billion in November. While the decrease wasn’t as pronounced as expected – the agency’s early estimate for the month predicted a 0.5 per cent drop – other measures show a bigger drop. Retail sales in volume terms, which measures the quantity of goods sold and controls for price changes due to inflation, decreased 0.4 per cent in November. Core retail sales, which exclude gasoline stations and motor vehicle and parts dealers, dropped 1.1 per cent – the largest decline in 11 months. Still, the federal agency’s early estimate for December suggests retail sales rebounded slightly up 0.5 per cent for that month, though it cautioned the figure would be revised. “Canadian c...