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Unexpected rise in September Canadian retail sales

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VANCOUVER (NEWS1130) – Canadian retail sales rose more than three times faster than expected in September, led by new car dealers who had their biggest gain in more than four years.

Total sales of $40.7 billion were up 3.6 per cent from a year earlier.

“The only other sector to post a modest contribution was gas stations, with receipts edging up 0.8 per cent,” says Economist Francis Fong at the TD Bank.

“Retail sales are emerging as one of the true bright spots,” she adds.

BC recorded its fourth year-over-year increase in a row. Retailers in this province rang up $5.27 billion in sales, up 1.5 per cent from a year ago.

Fong notes that “while spending is accelerating, consumer debt is moving in the opposite direction.”

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