Canada Retail Sales Fall 0.2% in November

By Robb M. Stewart

OTTAWA--Retail sales in Canada fell for the first time in three months in November, led by lower spending on food and drink.

Sales fell 0.2% from the previous month to a seasonally adjusted 66.61 billion Canadian dollars, the equivalent of about $49.38 billion, Statistics Canada said Friday.

The result was weaker than the data agency's preliminary estimate and the consensus forecast of economists, both of which were looking for sales to have been relatively unchanged for the month following a downwardly revised 0.5% rise in October sales.

Statistics Canada said that early indications suggest that retail sales increased 0.8% in December, though the figure was based on responses from roughly 49% of the companies surveyed and will be revised.

Write to Robb M. Stewart at [e-mail]

(END) Dow Jones Newswires

01-19-24 0850ET