Cross-border shopping depressed Canadian retail sales by 0.9% in December 2012

The number of Canadians crossing the border was up 25% year-over-year in December 2012 and up 14% over the last 3 months, according to Statistics Canada.
 
A 14% rise in cross-border trips translates into a 0.7% reduction in retail spending in Canada, according to an analysis by Fusion Retail Analytics.
 
"Retail sales in Canada would have been 0.9% higher in December if cross-border shopping had remained at last year's levels," says Joe Thacker, Chief Strategist at Toronto-based Fusion Retail Analytics.
 

on February 20, 2013