BCREA ECONOMICS NOW: Canadian Retail Sales - November 22, 2012
BCREA ECONOMICS NOW
Canadian Retail Sales - November 22, 2012
Canadian retail sales edged 0.1 per cent higher in September, following increases in the previous two months. Retail sales were higher in 7 of 11 retail sub-sectors. Adjusted for inflation, retail sales were flat.
Third quarter Canadian economic growth has looked consistently weak and today's positive retail sales data does little to move our GDP tracking estimate. We estimate that the Canadian economy grew by just 0.8 per cent in the third quarter. However, we do expect growth to rebound to close to 2 per cent in the fourth quarter.
Retail sales in British Columbia were up 0.3 per cent in September and 0.8 per cent higher year-over-year. Through the third quarter, retail sales have grown 3.2 per cent over last year.
For more information, please contact:
Cameron Muir | Brendon Ogmundson |
Chief Economist | Economist |
Direct: 604.742.2780 | Direct: 604.742.2796 |
Mobile: 778.229.1884 | Mobile: 604.505.6793 |
Email: cmuir@bcrea.bc.ca | Email: bogmundson@bcrea.bc.ca |
BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).
Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.
Your Vancouver Real Estate Specialist.
DavidValente.com
604-377-6015