Canada: After increasing 0.4% in July, retail sales declined 0.3% in August to $48.9 bln

Eren Sengezer FXStreet

"After increasing 0.4% in July, retail sales declined 0.3% in August to $48.9 billion," the Statistics Canada reported on Friday.

Key highlights:

Sales were down in 8 of 11 subsectors, representing 57% of retail trade.
Lower sales at food and beverage stores more than offset higher sales at gasoline stations and motor vehicle and parts dealers.
Excluding the latter two subsectors, retail sales were down 1.3%.
In volume terms, retail sales decreased 0.7%.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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