Canada’s Retail Sales Rise For 6th Month In Row, Up 0.4% In October

  • December 19, 2020 03:49 AM AEDT
  • Kunal Sawhney
    CEO Kunal Sawhney
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    Kunal Sawhney is founder & CEO at Kalkine and is a richly experienced and accomplished financial professional with a wealth of knowledge in the Australian Equities Market. Kunal obtained a Master of Business Administration degree from University of T...

Canada’s Retail Sales Rise For 6th Month In Row, Up 0.4% In October

Summary

  • Canada’s retail sales surged to C$ 54.6 billion in October, driven primarily by motor vehicle and parts dealers.
  • Sales of new passenger cars dropped by 23.2 per cent year-over-year (YoY) in the month of October, while new trucks sales jumped 4.1 per cent YoY.
  • October’s 0.3 per cent increase in core retail sales was relatively lower than that of 2.1 per cent in September.
  • Amid the rising number of coronavirus cases, retail e-commerce sales in Canada touch the mark of C$ 3.1 billion in October on an unadjusted basis.

 

Canada’s retail sales surged for the sixth month in a row in October, up by 0.4 per cent to C$ 54.6 billion, reported Statistics Canada on Friday, December 18. The sales growth, the report noted, was driven by motor vehicle and parts dealers.

Keeping aside gas stations, motor vehicle and parts dealers, Canada’s core retail sales climbed by 0.3 per cent. This growth was fueled by the increased sales of sporting goods, furniture, building material, etc.

Six out of 11 subsectors recorded a rise in retail sales in October. The numbers edged up by 0.2 per cent in volume terms.

 

Motor Vehicle & Parts Dealers Record Increased Sales In October 2020


Sales of new passenger cars dropped by 23.2 per cent year-over-year (YoY) in the month of October, while new trucks sales jumped 4.1 per cent YoY.

Gas stations sales slumped for the first time in six months in October, down by 2.7 per cent. The sales were down 2.8 per cent in volume terms.

 

October’s Core Retail Sales Up In Canada


October’s 0.3 per cent increase in core retail sales was relatively lower than that of 2.1 per cent in September.

Furniture and home furnishings shops posted a 6.6 per cent increase in sales in the month, noting a second consecutive monthly rise.

© Kalkine Group Image

 

Retail Sales Up In 7 Provinces


Sales climbed 2.1 per cent in British Columbia for October, driven by increased business at stores selling health care products, building material, garden equipment, etc.

Sales dropped for the first time in Ontario since April, down 0.4 per cent in October. This decline in sales comes as the second wave of COVID-19 infections hit the province and saw a reintroduction of many lockdown protocols around the months of October and November.

 

Canada’s E-commerce Sales For October


Amid the rising number of coronavirus cases, retail e-commerce sales in Canada touch the mark of C$ 3.1 billion in October on an unadjusted basis. This amounted to about 5.2 per cent of the country’s total retail trade in the month.

Retail e-commerce sales recorded a 67.7 per cent YoY surge in October, while the month’s total unadjusted retail sales were up 9.1 per cent, reported StatCan.

 

 


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