Healthy new motor vehicle sales powered retail trade to its fastest rate of growth in four months in November, Statistics Canada said today.
Retail sales increased 1.1% from the previous month to a record-high $31.3 billion.
Excluding sales by dealers of new, used and recreational vehicles and auto parts, retail sales edged up 0.1% from October, StatsCan said..
“Sales at new car dealers rose 4.9% in November after a rebound in October,” the government agency said.
“These two months of gains saw new car dealers recover nearly all the lost sales of August and September and brought them back in line with recent historical trends.”
Lower prices for gasoline offset gains made in the automotive sector and non-auto retailers saw their sales decline only twice in the first 11 months of 2005.
Aside from a 1.9% gain made in the auto sector, three other sectors showed strong increases: sales at building and outdoor home supplies stores were up 2.8%, clothing and accessories stores up 2.5% and miscellaneous retailers up 1.2%.
Pharmacies and personal care goods stores saw a small 0.7% rise in the month.
Remaining unchanged were sales at general merchandise, furniture, home furnishings and electronics stores, food and beverage stores.
Taking prices into account, constant dollar retail sales rose 1.3% in November after increasing 1.5% in October.