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- Canada’s retail sales decrease less than anticipated in July
Canada’s retail sales decrease less than anticipated in July
Statistics
Canada announced on Thursday that the Canadian retail sales decreased 0.6
percent m-o-m to CAD55.80 billion in July, following a revised 6.0 percent
m-o-m jump in June (originally a 4.2 percent m-o-m surge).
Economists
had forecast a 1.2 percent m-o-m decrease for July.
According
to the report, sales went down in 5 of 11 subsectors in July, accounting for 38.7
percent of total retail sales, led by lower sales at food and beverage stores
(-3.4 percent m-o-m) and building material and garden equipment and supplies
dealers (-7.3 percent m-o-m).
Core retail sales, which excludes gasoline stations and motor vehicle and parts dealers, fell 1.3 percent m-o-m in July.
In
y-o-y terms, Canadian retail sales grew 5.3 percent in July, following an unrevised
6.2 percent jump in June.
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