Uncertain economic times require a shot in the arm, and Statistics Canada seemed to supply it Friday morning.
The agency reported retail sales in Canada rose 0.9% in November from the month before, rebounding from a downwardly revised 1.1% fall in October and beating market expectations of a hike of just 0.4%.
It was the largest gain in retail trade since March, driven by higher sales at motor vehicle & parts dealers (+3%), led by new car dealers (+2.8%), and at food & beverage stores (+0.9%), namely supermarkets and other grocery stores (+1.3%).
What's more, sales at building materials and garden equipment and supplies dealers went up for the first time in five months (2.1%); and receipts at gasoline stations advanced 0.2%, mostly due to higher prices at the pump. Year-on-year, retail trade increased 1.9%.
