Canadian retailers raised $ 53.9 billion in sales in September, far more than expected



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Statistics Canada says retail sales rose 1.1% to $ 53.9 billion in September, marking the fifth consecutive monthly increase since April’s record drop due to the pandemic.

According to financial data firm Refinitiv, economists on average expected an increase of 0.2%.

Retail sales increased in nine of the 11 subsectors.

Statistics Canada says major retail sales – which exclude gas stations and auto and parts dealers – increased 1.1%.

Sales in general merchandise stores increased 1.8%, while sales in food and drink stores increased 0.9%, partly due to higher prices for meat, fish and dairy.

Statistics Canada says its initial estimate for October suggests that retail sales for the month remained relatively flat, but noted it was a preliminary figure and would be revised.

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