Canadian Retail Sales Up 0.9% in December, Helped by Stronger New Car Sales

Statistics Canada says retail sales rose 0.9 percent to $67.3 billion in December, helped by strength in sales at new car dealers. However, the agency says its early estimate of retail sales for January points to a decrease of 0.4 percent for the first month of 2024. For December, Statistics Canada says sales were up in five of the nine subsectors it tracks. Sales for the motor vehicle and parts dealers subsector rose 1.9 percent, helped by a 2.4 increase in sales at new car dealers, offset in part by a 2.7 percent drop at automotive parts, accessories and tire retailers. Core retail sales—which exclude gasoline stations and fuel vendors, as well as motor vehicle and parts dealers—were up 0.5 percent in December....