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Retail Sales Dropped 2.0 per cent in December

Posted February 20, 2015

Under Economic Issues

(Hamilton Spectator)

Retail sales in Canada in December posted their largest one-month drop since April 2010, as the cost to fill your gas tank plunged and holiday shoppers spent less.

Statistics Canada said Friday retail sales fell 2.0 per cent compared with November to $42.1 billion in December. That compared with a drop of 0.4 per cent that economists had expected, according to Thomson Reuters.

The drop in sales came as sales at gasoline stations fell 7.4 per cent in December due to lower gas prices, while sales at motor vehicle and parts dealers fell 1 per cent. Excluding motor vehicle and parts dealers, sales were down 2.3 per cent. Click here to read more.