Canadian retail sales decreased by 0.2 per cent to $69.4 billion in October compared to the previous month. Compared to the same time last year, retail sales were up by 2.1 per cent. Furthermore, core retail sales, which exclude gasoline and automobile items, decreased by 0.5 per cent in October. In volume terms, adjusted for rising prices, retail sales fell by 0.6 per cent in October.

Retail sales in British Columbia were down 0.4 per cent in October month-over-month and rose by 2.6 per cent compared to the same time last year. In the CMA of Vancouver, retail sales were up 1.0 per cent from the prior month and were 3.5 per cent above the level of October 2024.

October’s report marks a second consecutive monthly fall in consumer spending, with retail activity falling by about 0.3 per cent since January. Turbulence in monthly retail sales throughout the year may signal a lack of confidence amongst Canadians as trade uncertainty continue percolating through the economy. The Bank of Canada will closely monitor Canada’s economic growth in the final quarter of 2025, as they remain poised for a relatively neutral 2026 concerning policy adjustments.