By Paul Vieira
OTTAWA--Canadian retail sales in November edged upward, falling short of expectations, as a gain in vehicle receipts wasn't enough to offset broad-based weakness.
The value of retail sales rose 0.2% in November to a seasonally adjusted 45.23 billion Canadian dollars ($33.97 billion), Statistics Canada said Friday. Market expectations were for a 0.5% gain, according to economists at Royal Bank of Canada.
In volume terms, retail sales increased at a faster 0.7% in November, due in part to sales at gasoline stations and new-car dealerships. Analysts eye volumes to get a more accurate reading on activity.
The previous month's data were revised higher, and now indicate retail sales in October advanced 1.2% versus the earlier 1.1% estimate.
On a 12-month basis, nominal retail sales climbed 3% in November.
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(END) Dow Jones Newswires
January 20, 2017 08:45 ET (13:45 GMT)
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