IE Staff
(November 19 – 12:15 ET) – Some
economists were disappointed by the
retail sales data reported this
morning, but a hot Christmas
season could be upon us, according
to CIBC economists.
The only sectors that were
strong in September were auto
dealerships and department stores.
Both Ontario and New Brunswick had
sales declines, while consumers in
Alberta and B.C. were active.
CIBC says that despite the poor
fall results, winter should be
much better thanks to the 150,000
new jobs created over the past
two months. CIBC says markets are
already building in this
expectation.
-IE Staff
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