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- Canada’s retail sales up 0.4 percent in July
Canada’s retail sales up 0.4 percent in July
Statistics
Canada reported on Friday that the Canadian retail sales rose 0.4 percent m-o-m
at CAD51.48 billion in July, following a revised 0.1 percent m-o-m drop in June
(originally unchanged m-o-m).
The result was below
economists’ forecast, suggesting a 0.6 percent m-o-m gain for July.
According to
the report, sales grew in 6 of 11 subsectors, representing 71 percent of retail
trade.
The July m-o-m increase
was mainly due to higher sales at motor vehicle and parts dealers (+1.5 percent
m-o-m; their largest gain since February). Sales also increased at health and
personal care stores (+2.6 percent m-o-m), electronics and appliance stores (+0.7
percent m-o-m) and food and beverage stores (+0.6 percent m-o-m).
Excluding motor
vehicle and parts dealers, retail sales edged down 0.1 percent m-o-m in July
compared to an unrevised 0.9 percent m-o-m climb in June and economists’
forecast of 0.3 percent m-o-m advance. Excluding motor vehicle and parts
dealers and gasoline stations, retail sales also dropped 0.1 percent m-o-m in
July.
In y-o-y terms, Canadian retail sales jumped 1.2 percent in July, accelerating from +1.0 percent in July.
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