Canadian Retail Sales Rise by 0.3% in July
Investing.com - Canadian retail sales rose 0.3% in July, Statistics Canada said on Friday.
This was compared to a revised decline of 0.1% in the previous month.
Economists had forecast a reading of 0.4%.
Statistics Canada noted that the increase was due to higher sales at food and beverage stores and gasoline stations.
"Excluding the lower sales at motor vehicle and parts dealers, retail sales increased 0.9%," the report said.
Sales were up in 8 of 11 subsectors, representing 54.8% of total retail sales.
After removing the effects of price changes, retail sales in volume terms decreased 0.1%.
Core retail sales, which excludes automobiles, rose 0.9% in July, compared to forecasts for an increase of 0.6%.
They had gained 0.1% in June in an upward revision from an initial 0.1% decline.
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