Mixed Performance in Canada's Retail Sales for October, Data Shows

Data released by the Canadian Statistics Office on Friday revealed mixed performance in Canada's retail sales for the month of October. Retail sales grew by 0.4% month-on-month, in line with expectations that anticipated a similar growth rate. The previous reading also recorded a 0.4% increase in September.

On the other hand, the core retail sales index, which excludes auto sales, posted a stronger-than-expected growth of 0.9% during October, surpassing market expectations of a 0.3% increase. This followed a contraction of 0.7% in September, with the reading revised down to 0.8% for that period.

It is important to note that this index tracks the change in the total value of inflation-adjusted retail sales and is used to measure the value of goods sold by retailers across a range of stores. The data includes all sales conducted online.

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