Finally some signs of Canada moving in a positive direction.
Originally posted on Financial Post | Business:
OTTAWA — Canadian retail sales unexpectedly rose 0.2% in November from October to a record high of $39.4 billion as shoppers bought more new cars and electronics, according to Statistics Canada data on Tuesday.
Analysts in a Reuters survey had expected sales to remain flat in the month. Retail sales have risen for five consecutive months and were up 1.4% compared with a year earlier.
In volume terms, used to calculate gross domestic product growth for November which will be released on Jan. 31, sales rose 0.8%.
Sales at motor vehicle dealers grew 1.8%, and electronics and appliance stores saw sales jump 8.9%. Apple released its iPad mini tablet computer in November.
But sales were up only in 4 of 11 subsectors representing 32% of total retail trade, Statscan said, and excluding the auto sector, they fell 0.3% in the month.
Consumer spending has been a key engine…
View original 34 more words