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Canada: Retail sales declined 0.1% to $50.8 billion in August

Eren Sengezer FXStreet

"Retail sales declined 0.1% to $50.8 billion in August, following a 0.2% increase in July," Statistics Canada reported on Friday.

Key takeaways from the press release

Sales were down in 7 of 11 subsectors in August, representing 52% of retail trade.
In volume terms, retail sales decreased 0.3%.
Lower sales at gasoline stations (-2.0%) more than offset gains at motor vehicle and parts dealers (+0.8%).
Excluding motor vehicle and parts dealers, retail sales declined 0.4%.

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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Canada: Retail sales declined 0.1% to $50.8 billion in August

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