Retail sales stronger than expected in December

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All nine subsectors had an increase in sales for the month. Along with food and beverage, motor vehicle and parts dealers had the largest gains. The gains were higher than the agency’s early estimate of 1.6 per cent.

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Excluding gasoline and fuel and motor vehicle and parts dealers, core retail sales were up 2.5 per cent. This follows a one per cent decrease in the previous month.

December’s increase was mainly due to 3.5 per cent higher sales in food and beverage, led by gains at supermarkets and other grocery retailers, except convenience stores. Those retailers had a 3.9 per cent sales increase in December, compared to a two per cent decline in November.

That subsector also benefitted from 3.9 per cent higher receipts at beer, wine and liquor retailers and 2.4 per cent increase in specialty food retailers.

In volume terms, retail sales increased 2.5 per cent in the last month of 2024.

More to come …

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