Canadian consumers splurged in September and October, a surprise resurgence in spending even as high interest rates restrict household budgets.
Receipts for retailers rose 0.8% last month, according to an advance estimate from Statistics Canada released Friday. That’s the biggest jump since April, and followed an unexpected 0.6% increase a month earlier, which far exceeded the median estimate of a flat reading in a Bloomberg survey of economists.
Read More : Canadian Retail Sales Soar with 0.8% Jump, Reflecting Sharp Spending Increase