With the rising number of Canadians purchasing the home renovation supplies for taking the benefits from the temporary tax credit, the retail sales have surged by 0.7 percent in January. Statistics Canada has revealed that there has been a surge of 6 percent in these sales with the year-on-year increase.
However, the auto sales dropped by 1.5 percent in spite of the rise in the prices of new cars.
According to the records maintained at Statscan, the sales volumes rose by 0.1% in January.
The sales at the building and outdoor supplies stores rose by 7.4 percent, which has been marked as the most sudden rise in the last 6 years.
Sales at furniture, home furnishings and electronics stores food and beverage, miscellaneous and clothing and footwear were also observed to be robust.
The deadline to take up the HRTC rebate of $1,350 was Feb. 1. This was the Federal Government’s Economic Action Plan aimed at enhancing purchases.
The shoppers in Ontario and Newfoundland turned down the buying scale in January, leading to decline of sales in both of those provinces. On the other hand, the retailers in seven other provinces witnessed improved sales.