Canada Retail Sales Mom

Retail sales in Canada are expected to ease by 0.4% from the previous month in January of 2025, the first drop in seven months, according to preliminary estimates. That follows a 2.5% surge in the final month of 2024, revised higher from the preliminary estimate of 1.6%, to mark the sharpest rise in retail turnover since May of 2022. Sales were up in all nine subsectors, led by surges in food and beverage retailers (3.5%) and sales in gasoline stations and fuel vendors (4.2%). Core sectors for consumers were also higher, with turnover increasing sharply in general merchandise retailers (3.2%) and clothing, accessories, shoes, and apparel retailers (3.1%). While remaining high, sales growth missed the average increase in motor vehicle and parts dealers (1.9%) and building material and garden equipment dealers (2.4%). From the previous year, retail turnover was 3.6%, the sharpest increase in nearly two years.