Canadian Apparel Retailing Continued To Grow In November 2010
The Statistics Canada said
Canada
Retail sales grew by 1.3% in November (2010), far more than the 0.4% growth that many economists had anticipated. This is the 5 consecutive month of growth, and has increased by 1% in October.
ScotiaBank, Canada's economic expert
DerekHolt
The retail sales account for about 1/4 of GDP in November, and the growth rate in November will enable economists to forecast the economic growth in the fourth quarter.
Let them have confidence in the optimistic forecast of the Canadian Central Bank's growth of 2.3% in the fourth quarter.
Of the 11 retail businesses, there are 8 kinds of retail industry showing growth. The sales of these 8 retailers account for 90% of the total sales.
Retail sales in all nine provinces increased, with only Novas Goscha (NovaScotia) province falling.
According to the Statistics Bureau, retail sales reached 37 billion 300 million Canadian dollars in November last year, mainly due to 3.6% growth in new car sales.
In addition, gasoline sales increased by 1.4%, and food and beverage sales grew by 0.8%.
clothing
Sports products, books and so on have also increased.
Sales of electronic products and household appliances were the largest, up to 2.2%.
However, some economic experts say that according to published data, the economy will grow strongly in the fourth quarter of last year and believe that this trend will continue to this year (2011), which will help Canadian manufacturing and export industries.
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