After a 1.0% decline in November, core retail sales rose 2.5% in December due to higher sales at food and beverage retailers (+3.5%). The rise in this subsector was driven by gains in supermarkets and other grocery retailers (excluding food retailers), which rose 3.9% in December after a 2.0% decline in November. Higher revenues from beer, wine and liquor retailers (+3.9%) and specialty food retailers (+2.4%) in December also contributed to increased food and beverage retailers’ sales.
Sales at car and parts dealers (+1.9%) increased in December thanks to higher sales at new car dealers (+2.0%), which recorded their third consecutive monthly increase. Also Sales gains were also recorded by auto parts, accessories and tires dealers (+4.7%) and used car dealers (+3.2%).
Sales at petrol stations and fuel vendors (+4.2%) increased in December for the second consecutive month. In terms of volume, sales at petrol stations and fuel vendors increased by 0.7%.
Retail sales rose across all provinces in December, led by higher sales in Quebec (+3.6%) and Ontario (+2.0%).After falling 0.1% in November, retail sales in Quebec (+3.6%) rose in December. In the Montreal metropolitan area, retail sales rose by 2.4%.
Retail sales increased by 2.4% in the fourth quarter of 2024, marking a second consecutive quarterly increase. In terms of volume, retail sales increased 1.8% in the fourth quarter.
In 2024, retail sales increased by 1.3%, led by gains at auto and parts dealers. Sales increased by 0.7% in 2024.
Retail sales in 2024
Canadian retailers ended 2024 with sales of $803.1 billion, marking a 1.3% increase from 2023. Sales rose in five of the nine subsectors. Car and parts dealers saw one of the most significant gains, with a 2.9% increase, driven by a 3.7% rise at new car dealers. Petrol stations and fuel vendors experienced the largest decline in retail sales, dropping 2.5%, largely due to lower gasoline prices in 2024 compared to 2023.
Basic retail sales increased by 1.3% in 2024, led by higher sales at retailers of general goods (+3.9%) and retailers of health and personal care (+4.6%). Sales at food and beverage retailers also increased (+0.9%) due to higher sales in supermarkets and other grocery retailers (excluding convenience retailers) (+2.0%), which saw gains in seven months in 2024.
Statistics Canada provides an advance estimate of retail sales, indicating that sales fell 0.4% in January 2025. Due to its early nature, this figure will be revised. This unofficial estimate was calculated based on responses from 57.7% of companies surveyed. The average final response rate to the survey over the past 12 months was 88.2%.
The rise in Ontario (+2.0%) in December was primarily due to higher sales at food and beverage retailers. In the central Toronto area, retail sales rose 1.1 percent%.
Ecommerce Retail Sales in Canada
On a seasonally adjusted basis, retail e-commerce sales increased 3.1% to $4.3 billion in December, accounting for 6.1% of total retail trade accessories and tires dealers (+4.7%) and used car dealers (+3.2%).
U.S. Core Retail Sales monthly: An Overview
US retail sales on a monthly basis (m/m) is a key economic indicator that measures the change in the total value of U.S. retail-level sales from month to month. Here are the main aspects to understand about this indicator:
Overview
Definition: Retail sales on a monthly basis represents the percentage change in sales across different retail segments, comparing the current month with the previous month. It provides insights into consumer spending trends.
Data source: Data is published monthly by the U.S. Census Bureau, usually in the middle of the month for the previous month’s performance.
Importance
Economic Index: Retail sales are an important component of consumer spending, which drives a large part of the U.S. economy. Changes in retail sales could signal shifts in consumer confidence and economic health.
Retail sales figures impact GDP calculations, making them essential for understanding economic growth.
Market Reactions
Financial Markets: Retail sales data can significantly impact financial markets. Strong sales figures typically lead to positive market sentiment.
while weak numbers can cause lower stock prices and shifts in bond yields.
Currency Impact: The USD may rise or weaken based on retail sales performance, affecting forex trading.
Analysis and trends
Monthly volatility: Retail sales can be volatile from month to month due to seasonal factors, holidays, and economic events. Analysts often look for trends over several months to accurately measure consumer behavior.
Consumer confidence: A higher retail sales figure generally indicates higher consumer confidence, leading to increased spending, while lower sales may indicate economic concerns.
Retail sales in US dollars on a monthly basis are a critical indicator of economic activity and consumer behavior in the United States.
