Indicators
Canada Economy Quickens, Upending Forecasts for Tepid Growth
- Retail sales get boost in October; factory sales rise 2%
- Data suggest spending is resilient despite higher rates
Shoppers at a Walmart store in Victoria, British Columbia.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
Canada’s economy recorded a flurry of activity last month, according to preliminary data, potentially casting doubt over the extent of an expected slowdown in the fourth quarter.
Statistics Canada released advance estimates on Tuesday for retail that showed sales rising 1.5% in October. Separately, the agency said wholesale activity rose 1.3% during the month, while factory sales were up 2%. The agency provided few details, however, and it’s not clear how much rising prices were driving the gains.