Canadian consumers are expected to cut back further on their spending. Find out more.
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Receipts for retailers dropped 0.5 per cent last month, according to an advance estimate released Tuesday by Statistics Canada. That erased some of the 1.4 per cent growth in October — the largest increase in five months that was led higher by sales at gas stations and supermarkets.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
In volume terms, retail sales were unchanged in October as higher fuel prices offset weaknesses in furniture, electronics and clothing stores. Gasoline sales accounted for about half of the increase in October spending.Article content
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