08:20 AM EST, 01/23/2025 (MT Newswires) -- Canadian retail sales will be updated for November and December at 8:30 a.m. ET on Thursday, noted Scotiabank.

November's retail sales were guided by Statistics Canada to be "relatively little changed" when it issued its preliminary guidance on Dec. 20, said the bank. That doesn't necessarily mean much, given the shaky tracking and low sampling rate for the preliminary readings.

Investors will get the revised tally plus the preliminary guidance for December that will inform holiday sales and the overall Q4 result, added Scotiabank.

According to the bank, tracking is quite strong; in volume terms, Q3 was up by 5.7% quarter-over-quarter seasonally adjusted annual rate (SAAR) and Q4 is tracking at 4.3% based solely on the October jump and the Q3 average.

Scotiabank added it will have a better handle on that on Friday, but the consumer has been rebounding in Canada.