Retail sales in Canada rose 2.5% in December, Statistics Canada reported moments ago, to $69.6 billion, after a 1% decline in November before being revised to a 0.2% increase, beating expectations of a 1.5% increase.

Growth in January was supported by a 3.5% increase in food and beverage retail sales, a 1.9% increase in auto and parts sales, and a 3.2% increase in general merchandise retail sales. Core sales, which exclude motor vehicles, parts and gas stations, rose 2.7% after falling 0.7% in November.

Canadian retailers ended 2024 with sales of $803.1 billion, up 1.3% from 2023. Auto sales saw the biggest gains during the year, up 2.9%, while gas stations and fuel retailers posted the biggest declines during the year, down 2.5%.