Economic News Retail Sales Up

Canadian Retail Sales - September 23, 2015, In a further sign that the Canadian Economy is recovering , Canadian retail sales rose 0.5 per cent in July, the third consecutive monthly increase. On a year-over-year basis, Sales were up 1.8 per cent, Retail Sales were higher in 6 of the 11 retail sub-sectors with sales of motor vehicles and clothing leading the way, In BC, retail sales dipped 0.4 per cent on a monthly basis but were up 5.7 per cent compared to July 2014. Consumer spending continues to be the main driver of economic growth in Canada,though weaken in the Lonnie is helping export growth. Canada real GDP is currently tracking at between 2 and 2.5 per cent in the 3rd quarter, which would mean an end to the "technical" recession experienced over the first half of the year.

FOR MORE INFO, PLEASE CONTACT Cameron Muir - Chief Economist 604-742-2780