StatCan reveals 0.5% decrease in September retail sales; increase expected for October

Statistics Canada says national retail sales decreased half a percentage point to $61.1 billion in September 2022 on the backs of sales at gasoline stations (-2.4%; its third consecutive decline) and in food and beverage stores (-1.3%).

Core retail sales – which exclude sales at gas stations and vehicle and parts dealers – decreased 0.4%.

Overall, retail sales were down 1.0% in the third quarter – the first decline of its kind since the COVID-19 pandemic began. In volume terms, retail sales were down 1.4% in the third quarter of 2022.

The largest increase to core retail sales in September occurred at clothing and clothing accessories stores (+1.7%). Sales were up in all three store types, led by higher sales at clothing stores (+1.5%).

StatCan is predicting an increase in sales of 1.5% in October with those numbers expected by December 20, 2022.