08:13 AM EST, 12/20/2024 (MT Newswires) -- Canada updates retail sales for October and November at 8:30 a.m. ET on Friday, noted Scotiabank.

Statistics Canada's guidance was for October to post a 0.7% month-over-month seasonally adjusted rise in nominal sales, but this flash estimate is often revised in either direction and investors will get details like volumes and the sector breakdown, said the bank.

November's flash estimate won't be accompanied by any details.

Together, they will further inform tracking of Q4 retail sales which are roughly 40% of total consumer spending, pointed out Scotiabank.

To date, retail sales volumes have been tracking the strongest back-to-back quarterly gains in about a decade at roughly 5% quarter-over-quarter seasonally adjusted annual rate in each of Q3 and Q4, according to the bank.