Canadian Retail Demonstrates Resilience

Canada's national statistics office has reported that retail sales in September increased by 1% in August. Although sales were 3.3% lower than the same month in 2008, this growth was twice as big as had been expected and driven by sales of automobiles and at supermarkets. Food and beverage outlets saw their sales rise by 1.3% on the previous month, while in total sales expanded in six of eight retail sectors, with only building/outdoor home supplies and clothing/accessories registering a decline. This pick up in retail sales underlines the fact that Canada's recession looks likely to be shallower and shorter

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