Black Friday strength helps to drive retail sales higher in Canada
Retail sales unexpectedly rose 0.4 per cent in November, thanks in part to "promotional events" such as Black Friday, Statistics Canada said Friday.
Sales rang in at a record $43 billion in the month. Analysts had forecast that sales would slip 0.2 per cent from October.
Black Friday, the day after U.S. Thanksgiving, has long been a huge shopping day in the United States. But Canadian retailers are increasingly lowering prices in this country around that time in a bid to prevent cross-border shopping.
Unseasonably cold weather and early snow in November also helped to boost sales, the statistics agency said. Sales at clothing and footwear stores rose 5.2 per cent.
New product launches were behind a 4.6 per cent gain in sales at electronics and appliance stores.
Retail sales increased in seven provinces, led by a 2.2 per cent gain in Newfoundland and Labrador and a 1.9 per cent gain in British Columbia.
Sales fell 0.6 per cent in Alberta, suggesting that slumping oil prices were already making their impact felt among the province's consumers.