Canada Retail Spending Power on Par with U.S.
Jun 14, 2011 3:11 PM
Per capital retail spending in Canada is projected to reach approximately $13,667 in 2011--which will put the figure ahead of the U.S. level for the first time. (The 2011 U.S. figure is projected to be $13,428.)
The parity is a result of a strengthening of the Canadian dollar and due to stronger overall fundamentals in the economy.
It's a sharp break from past years. The gap widened in favor of the U.S. between 1992 and 2001. In that year, the gap between the figures for the two countries was $4,358. It has since narrowed in each year--except for a blip in 2009.
Source: Colliers International
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