Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

UPDATE 1-Canada's retail sales fall in August on fewer car purchases

Published 2016-10-21, 08:43 a/m
© Reuters.  UPDATE 1-Canada's retail sales fall in August on fewer car purchases

(Adds details from report)

OTTAWA, Oct 21 (Reuters) - The value of Canadian retail sales unexpectedly declined in August due to lower sales of new and used cars and a decline in purchases at general merchandise stores, data from Statistics Canada showed on Friday.

The 0.1 percent decline fell short of expectations for a gain of 0.3 percent, while volumes fell by 0.3 percent. July sales were revised down slightly to a decline of 0.2 percent from the previously reported 0.1 percent decrease.

The weak retail performance in the first two months of the third quarter could mean there is somewhat less buoyancy to the expected economic rebound. Analysts expect growth picked up in the third quarter after wildfires in Alberta caused a contraction in the second quarter.

Sales in seven of 11 sectors were down in August, accounting for 57 percent of retail trade. The decline was led by the motor vehicle and parts segment, which was down 0.5 percent on a decrease in sales at new and used car dealers.

Sales at general merchandise stores declined 0.9 percent, the third decline in four months. Clothing and accessories stores saw sales fall 0.5 percent.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.