Canadian Reatail Sales Dropped 

Canadian Retail Sales (November 2022)

Canadian seasonally-adjusted retail sales fell 0.1 percent in November to $61.8 billion. Sales fell in 6 of 11 subsectors but were led by lower sales at food and beverage stores (-1.6 percent) and building material and garden equipment and supplies dealers (-3.8 percent). Core retail sales, which strips out gasoline and motor vehicle and parts dealers, declined 1.1 percent. In volume terms, sales fell 0.4 percent in November.

In BC, seasonally-adjusted sales rose 0.9 percent in November. Compared to the same month last year, retail sales were up 4.4 percent in the province. In the Greater Vancouver region, sales rose 0.9 percent month-over-month and were up 4 percent year-over-year.

In November, in the run-up to the holiday shopping season, Canadian e-commerce sales rose 26 percent to $4.4 billion, corresponding to 6.5 percent of retail sales. This percentage remains elevated relative to pre-pandemic levels but is lower than during the core months of the pandemic in 2020 and 2021.

Source - BCREA