Canadian retail sales see largest decline since April 2010

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According to Statistics Canada, although retail sales totalled $42.1 billion in December 2014, the two-per cent drop from the previous month was the steepest since April 2010. Sales slumped in nine out of 11 total categories.

Despite the drop, total sales last December were four per cent higher compared to one year prior. All of the provinces experienced year-over-year gains, including B.C. where sales grew by six per cent to reach $5.6 billion but dropped 2.2 per cent compared to the previous month.

A statement from Statistics Canada says, “most store types typically associated with holiday shopping registered weaker sales in December, more than offsetting November gains.” CJ

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