Canadian Retail Sales (October 2022)
Canadian seasonally-adjusted retail sales rose 1.4 percent in October to $62 billion. Sales rose in 6 of 11 subsectors but were led by higher sales at gasoline stations (+6.8 percent) and food and beverage stores (+2.2 percent). Core retail sales, which strips out gasoline and motor vehicle and parts dealers, rose 0.9 percent in October. In volume terms, sales were unchanged.
In BC, seasonally-adjusted sales rose 1.3 percent in October. Compared to the same month last year, retail sales were up 3.6 percent in the province. In the Greater Vancouver region, sales rose 1.3 percent month-over-month and were up 3.1 percent year-over-year.
In October, Canadian e-commerce sales fell 4.4 percent to $3.4 billion, corresponding to 5.2 percent of retail sales. This percentage remains elevated relative to pre-pandemic levels but is lower than during the core months of the pandemic in 2020 and 2021.
Source - BCREA
