Canadian retailers racked up $53.9B in sales in September, far more than expected

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Canadian retailers racked up $53.9B in sales in September, far more than expected

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Statistics Canada says retail gross sales rose 1.1 per cent to $53.9 billion in September to mark the fifth consecutive month-to-month enhance for the reason that report drop in April due to the pandemic.

Economists on common had anticipated a rise of 0.2 per cent, in keeping with monetary information agency Refinitiv.

Retail gross sales had been up in 9 of the 11 subsectors.

Statistics Canada says core retail gross sales — which exclude gasoline stations and motorcar and components sellers — rose 1.1 per cent.

Gross sales at basic merchandise shops climbed 1.eight per cent, whereas gross sales at meals and beverage shops rose 0.9 per cent, partially due to increased costs for meat, fish and dairy merchandise.

Statistics Canada says its early estimate for October suggests retail gross sales for the month had been comparatively unchanged, however famous it was a preliminary determine and can be revised.

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