Retail faces headwinds despite stronger than expected November sales: Consultant - BNN Bloomberg

and a Bloomberg survey of economists. Core retail sales fell 1.1 per cent in November, marking the largest decline in 11 months.

Despite the most recent figures from Statistics Canada “being a little more favourable than expected,” Weintraub said he sees headwinds in the retail sector and anticipates a challenging year for many in the industry. “Still, a positive flash estimate for December suggests sales recovered in both nominal and real terms to close out the year, as Canadian consumers continue to prove resilient in the face of aggressive rate hikes,” Shelly Kaushik, an economist at BMO Capital Markets, said in aWeintraub said mixed signals for the retail industry can be seen in Canada’s unemployment levels, which have remained low during economic uncertainty.

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Canadian retail sales jump, offsetting November losses - BNN BloombergCanadian consumers remained resilient in December, even in the face of elevated inflation and rising interest rates.
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