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Canadian Retail Sales (October 2021) - December 21, 2021

Posted by Ron Neal on Tuesday, December 21st, 2021 at 4:59pm.

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May30-1
 

Canadian Retail Sales (October 2021) - December 21, 2021

Canadian seasonally-adjusted retail sales rose 1.6% to $57.6 billion in October. The rise was driven by a rebound in sales at motor vehicle and parts dealers (+2.2%) as new car sales (+2.8%) recovered from previous declines. The effects of the semiconductor shortage which had curtailed sales of new cars eased somewhat in October. Preliminary estimates, based on roughly 40.9% of respondents reporting so far to Statistics Canada, indicate that retail sales rose 1.2% in November.

In BC, seasonally-adjusted sales rose 0.3% in October. Compared to the same month last year, retail sales were up 1.6% in the province. Clothing sales rose the largest amount on a year-over-year basis in October, up 13.3%. In the Greater Vancouver region, sales rose 1.5% month-over-month and were up 10.8% year-over-year.

In October, Canadian e-commerce sales rose from $3.2 billion to $3.3 billion. As a result, e-commerce increased from 5.4% of total retail sales in August to 5.5% in October. This percentage is lower than at most points since the onset of the pandemic but is elevated compared to pre-pandemic levels.

Link:  https://mailchi.mp/bcrea/canadian-retail-sales-october-2021

For more information, please contact:

Brendon Ogmundson
Chief Economist
604.742.2796
bogmundson@bcrea.bc.ca 
Ryan McLaughlin
Economist
604.366.6511
rmclaughlin@bcrea.bc.ca

BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.

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The Neal Estate Group is your #1 source for all of your Victoria BC real estate needs. Get in touch with us online or by phone at (250) 386-8181 to speak with a Victoria real estate buying or selling expert today. With decades of experience as a top selling Victoria REALTOR® and ranked in top 1% globally with over 5,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Group have the industry experience and market knowledge to help you make smart and informed buying or selling decisions. 


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