Renovation Spending Remains Strong

The hardware, tools, and renovation and lawn and garden products were one of the driving categories in retail sales for September, increasing 25.9 compared to last year. Even with the summer months passed, consumers have continued the trend towards home improvement, says Statistics Canada. All products within the category posted a year-over-year increase for the second consecutive month, with growth driven primarily by increasing sales in renovation materials and supplies (+22.5 per cent). The largest contributor to the growth of this category was lumber and other renovation materials and supplies (+25.7 per cent). Overall retail sales reached $55.2 billion this September an increase of eight per cent compared with the same month a year prior. This marked the fourth consecutive increase in year-over-year sales for the sector. Higher sales were reported in 13 of the 19 commodity categories. The sale of automotive and household fuels continued to lag behind in terms of retail spending, falling 17.8 per cent from September 2019. Sales of food (+11.2 per cent) continued to rise as the consumption choices of Canadians for dining out have not yet returned to pre-pandemic trends.