VEHICLES DRIVE RETAIL GROWTH IN COUNTRY

An appetite for new vehicles powered Canadian retail sales higher in September, the third consecutive monthly increase, but the excitement didn’t extend to the mall. Overall retail sales were up one per cent for the month, well ahead of the 0.3 per cent that had been expected by economists, but would have been relatively flat without motor vehicles and parts. The September results came as sales at new car dealers climbed five per cent, the largest monthly gain since January 2009. “Strong employment gains, rising consumer confidence and a bustling housing resale activity have stoked the appetite for big-ticket purchases, giving a boost to retail sales in recent months,” CIBC economist Emanuella Enenajor said.