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Canadian retail sales rise unexpectedly in August
OTTAWA — Sales by Canadian retailers rose unexpectedly in August, led by gasoline, food and furniture outlets, Statistics Canada reported Friday.
Sales were up 0.5 per cent to $36.1 billion during the month, the federal agency said. It also revised its figure for July from a decline of 0.10 per cent to an increase of 0.10 per cent.
Economists had expected sales to decline by about 0.1 per cent in August.
"Gains were reported in six of 11 sub-sectors representing 70 per cent of total retail sales," the agency said.
The biggest gain was at gasoline stations, where sales were up 2.1 per cent — the second straight monthly increase.
"Canadian retailers ended their summer on a warm note," said Avery Shenfeld, chief economist for CIBCWorld Markets.
Read the full article here.
OTTAWA — Sales by Canadian retailers rose unexpectedly in August, led by gasoline, food and furniture outlets, Statistics Canada reported Friday.
Sales were up 0.5 per cent to $36.1 billion during the month, the federal agency said. It also revised its figure for July from a decline of 0.10 per cent to an increase of 0.10 per cent.
Economists had expected sales to decline by about 0.1 per cent in August.
"Gains were reported in six of 11 sub-sectors representing 70 per cent of total retail sales," the agency said.
The biggest gain was at gasoline stations, where sales were up 2.1 per cent — the second straight monthly increase.
"Canadian retailers ended their summer on a warm note," said Avery Shenfeld, chief economist for CIBCWorld Markets.
Read the full article here.