Canadian retail sales in November were flat compared with October, but an early estimate by Statistics Canada pointed to a rebound in December which saw the start of Ottawa’s GST/HST holiday.
The agency said Thursday overall retail sales totalled $67.6 billion in November, relatively unchanged from October.
BMO senior economist Shelly Kaushik said if Statistics Canada’s preliminary estimate of a 1.6 percent gain in retail sales in December holds, it would be the largest gain in two years.
“A disappointing November showing for retail sales was likely coloured by timing, as a late Black Friday and a mid-December start to the GST/HST holiday kept consumers on the sidelines in the latter part of the month,” Kaushik said….