Passenger Cars Drive Canada’s Retail Sales in January
Abstract:
Retail sales in Canada continue to perform very well. The year-over-year level of actual retail sales in January 2008 was +7.5%. The three-month smoothed level was +6.6%. Lying behind the retail spending strength are continuing healthy numbers on job growth in the country as a whole and a level of housing starts that is showing no significant moderation so far, unlike in the U.S. This is important because a lot of retail spending is home related. Canadian consumers are still spending “like a good thing”.
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Retail sales in Canada continue to perform very well. The year-over-year level of actual retail sales in January 2008 was +7.5%. The three-month smoothed level was +6.6%. Lying behind the retail spending strength are continuing healthy numbers on job growth in the country as a whole and a level of housing starts that is showing no significant moderation so far, unlike in the U.S. This is important because a lot of retail spending is home related. Canadian consumers are still spending “like a good thing”.