(Updates at market close)

By Nikhil Sharma and Fergal Smith

Nov 22 (Reuters) - Canada's main stock index edged

higher on Friday, extending its record-setting run, as

industrial shares climbed and investors cheered upbeat domestic

retail sales data.

The S&P/TSX composite index ended up 53.60 points,

or 0.2%, at 25,444.28, eclipsing the record closing high it

notched on Thursday.

For the week, the index was up 2.2%, its third consecutive

weekly gain. It has advanced 21.4% since the start of the year.

"Given the magnitude of the move, investors are taking a

little more cautious approach or careful approach as we head

into 2025," said Angelo Kourkafas, investment strategist at

Edward Jones Investments.

"The fact that we're not seeing any outsized moves is

probably healthy in terms of making this bull market rally more

sustainable."

Canadian retail sales rose 0.4% in September from August as

consumers spent more at grocery stores and supermarkets, while

preliminary data showed an October gain of 0.7%.

"Recent improvements in consumer confidence suggest that

this strength will continue for the rest of the year," said

Thomas Ryan, North America economist at Capital Economics.

"The government's announcement of a GST (goods and services

tax) holiday and tax rebates for households means the outlook

for early 2025 looks bright as well."

On Thursday, the Canadian government proposed C$6.3 billion

($4.5 billion) in new spending measures to help consumers deal

with high prices.

The industrial sector was up 1.1%, helped by gains for

railroad shares and a jump of 7.2% in the shares of automation

solutions company ATS Corp. ( ATS )

Energy also notched gains, rising 0.4%, as the price of oil

settled 1.6% higher at $71.24 a barrel.

Just three of the 10 major sectors ended lower, including

technology.