According to the latest retail sales report from StatCan, September sales were up 4.8% YoY but down MoM -0.6% to $56.6 billion. Notably, this decline beat the preliminary estimate of -1.9% that StatCan released a month ago. The advance estimate for October retail sales is a 1.0% increase.
Nationally, core retail was down MoM -0.3%, and up 3.4% YoY. Sales were down in Ontario, influenced by low motor vehicle sales numbers, but up in other provinces. Clothing store sales fell -7.9% MoM, that category’s largest decline since sales fell 31.1% in April 2021, but are still up 13.1% YoY. Food and beverage sales also went up 1.3%, and September e-commerce was up 5.1% MoM.