Canada’s retail sales rebounded in October after falling a month earlier.
Retailers sold 1% more goods in October, according to preliminary estimates released by Statistics Canada. That more than offset a 0.6% surprise decline in September, a month hampered by supply chain bottlenecks.
The decline in September was smaller than the 1.9% contraction initially estimated by the Ottawa-based statistics agency.
The latest data bolsters confidence that the economy is adapting to global supply chain issues, finding ways to get around shipping port closures and micro chip shortages. Economists expect it will take several months for the global supply chain disruptions to correct.
For the third quarter, retail sales rose 2.7%, the biggest quarterly increase in a year, said Statistics Canada.
Automotive sales and parts fell in September due to microchip shortages. Sales were down in seven of 11 categories that month.
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