Canada retail sales fall 0.7 percent as eight of nine subsectors decline
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Canadian retail sales fell 0.7 percent to C$73.7bn in July, Statistics Canada reported Thursday. The decline was broad.
Sales dropped in eight of nine subsectors, including declines of 1.9 percent at general merchandise retailers, 1.3 percent at new car dealers and 0.9 percent at gasoline stations and fuel vendors. Building material and garden suppliers posted the only core gain.
Retail volume fell 1.1 percent, a steeper decline than the current-dollar measure. E-commerce sales fell 3.5 percent to C$5.5bn, while Toronto sales dropped 4.7 percent.
The release includes an unofficial early estimate that August sales rose 1.3 percent. That estimate is based on responses from 57.8 percent of surveyed companies and will be revised.
