Canadian retail sales jumped 2.5% MoM in December, topping expectations of a 1.6% MoM rise.

• Retail sales were up 2.4% QoQ in Q4 2024, marking a second consecutive quarterly increase. In volume terms, retail sales increased 1.8% QoQ in Q4.
• Core sales (ex-gas and motor vehicles) were up 2.5% MoM following a -1.0% MoM decline in November.
• In 2024, retail sales increased 1.3%, led by gains at motor vehicle and parts dealers. In volume terms, sales were up 0.7% in 2024.
• Sales at motor vehicle and parts dealers (+1.9% MoM) were up in December on the strength of higher sales at new car dealers (+2.0% MoM), which posted their third consecutive monthly increase.
• Other segments with large increases: food (+3.5% MoM), gas (+4.2% MoM), general merch (+3.2% MoM), clothing (+3.1% MoM).