Canadian retail sales up 0.9% in December, helped by stronger new car sales

Statistics Canada says retail sales rose 0.9 per cent to $67.3 billion in December, helped by strength in sales at new car dealers.

However, the agency says its early estimate of retail sales for January points to a decrease of 0.4 per cent for the first month of 2024.

For December, Statistics Canada says sales were up in five of the nine subsectors it tracks.

Sales for the motor vehicle and parts dealers subsector rose 1.9 per cent, helped by a 2.4 increase in sales at new car dealers, offset in part by a 2.7 per cent drop at automotive parts, accessories and tire retailers.

Core retail sales — which exclude gasoline stations and fuel vendors, as well as motor vehicle and parts dealers — were up 0.5 per cent in December.

In volume terms, Statistics Canada says retail sales rose 0.8 per cent in December.