BCREA ECONOMICS NOW - Canadian Retail Sales
BCREA ECONOMICS NOW
Canadian Retail Sales - February 21, 2012
It was a somewhat disappointing holiday shopping season as Canadian retail sales declined 0.2 per cent in December, following four consecutive monthly increases. In volume terms, retail sales were flat. For all of 2011, Canadian retail sales grew xxx per cent. The decline in sales was broad based with 7 out of 11 sectors reporting sales. Today's retail sales report puts our final tracking estimate of fourth quarter Canadian GDP growth at just under 2 per cent.
BC retail sales fell at a 1.4 per cent monthly pace in December, though were 4.1 per cent higher compared to December 2010. Retail sales in BC significantly underperformed in 2011, growing just 2.3 per cent over 2010 due to prevailing weakness in provincial labour markets.
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.
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