Wild Sales Swings Settle Down

Total Canadian location-based retail sales were up 5.2 per cent for the three months ending October 2021, says Ed Strapagiel, a retail consultant. This is close to the long-term average after the wild swings caused by the COVID pandemic. On the other hand, gasoline prices are holding up retail sales. Without gas stations, retail sales for the period gained only thee per cent. While the three-month trend has weakened for the last few months, the underlying 12-month trend has leveled off and is starting to decline and that's without the impact of Omicron. Its impact is not reflected in the numbers yet.