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- Canada’s retail sales down 0.1 percent in August
Canada’s retail sales down 0.1 percent in August
Statistics
Canada reported on Tuesday that the Canadian retail sales edged down 0.1
percent m-o-m at CAD51.54 billion in August, following a revised 0.5 percent
m-o-m climb in July (originally a 0.4 percent m-o-m advance).
The result was
below economists’ forecast, suggesting a 0.4 percent m-o-m gain for August.
According to
the report, sales reduced in 6 of 11 subsectors, representing 51 percent of
retail trade.
The August
m-o-m decrease was mainly due to lower sales at food and beverage stores (-0.8 percent
m-o-m), gasoline stations (-0.4 percent m-o-m) and building material and garden
equipment and supplies dealers (-0.5 percent m-o-m). Meanwhile, sales at both
general merchandise stores (+0.8 percent m-o-m) and motor vehicle and parts
dealers (+0.1 percent m-o-m) were up in August.
Excluding motor
vehicle and parts dealers, retail sales fell 0.2 percent m-o-m in August
compared to an unrevised 0.1 percent m-o-m decline in July and economists’
forecast of 0.1 percent m-o-m advance. Excluding motor vehicle and parts
dealers and gasoline stations, retail sales dropped 0.1 percent m-o-m in August.
In y-o-y terms,
Canadian retail sales jumped 1.1 percent in August, decelerating from 1.2
percent in July.
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