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Consumer Caution Persists, Yet Retail Property
Market Continues to Show Low Vacancy
Consumer spending ends the year on softer footing. Retail spending eased to close out 2025, with sales down 0.4 per cent monthly in December, led by a 1.6 per cent pullback at motor vehicle and parts dealers. Core retail sales slipped 0.3 per cent, as colder weather weighed on building materials and home-related categories. In price-adjusted terms, December was flat, highlighting still-cautious goods demand after November’s Black Friday rebound.