Canadian retail sales edged down in November amid a broad consumer spending pull back.
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Retail sales in volume terms, which measures the quantity of goods sold and controls for price changes due to inflation, decreased 0.4 per cent in November. Still, the federal agency’s early estimate for December suggests retail sales rebounded slightly up 0.5 per cent for that month, though it cautioned the figure would be revised.Article content“Canadian consumers continue to prove resilient in the face of aggressive rate hikes,” BMO economist Shelly Kaushik said in a client note.
Meanwhile, retail sales decreased in six of 11 subsectors, representing 47.4 per cent of retail trade, Statistics Canada said.
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