Canada Retail Sales Climb 1.5% in October on Auto Purchases
By Paul Vieira
OTTAWA--Canadian retail sales surged in October, climbing the most in nine months, as consumers flocked to car dealerships to purchase a new vehicle.
The value of retail sales in October rose 1.5% on a seasonally adjusted basis to 49.92 billion Canadian dollars ($38.87 billion), Statistics Canada said Thursday. Market expectations were for a more muted 0.3% gain, according to economists at Royal Bank of Canada. On a year-over-year basis, retail sales rose 6.7%.
On a priced-adjusted, or volume, basis, retail sales climbed 1.4% in October from the previous month, and rose 5% from a year ago.
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(END) Dow Jones Newswires
December 21, 2017 08:45 ET (13:45 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.