Investing.com – Core retail sales in Canada rose in line with expectations in August, official data showed on Tuesday.
In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.4% in August, broadly in line with market expectations.
July figure was revised up to a 0.1% increase from a previously reported flat reading.
Total retail sales rose by a seasonally adjusted 0.5% in August, above expectations for a 0.4% increase. July’s figure was revised to a 0.5% decline from a 0.6% drop.
Gains were reported in 6 of 11 subsectors, representing 70% of retail sales. The increase was led by higher sales at gasoline stations and motor vehicle and parts dealers.
Retail sales rose in eight provinces in August. The largest sales gain in dollar terms occurred in Ontario, where sales rose 0.9%. This marked the fourth increase in five months.
Following the release of the data, the Canadian dollar added to gains against its U.S. counterpart, with USD/CAD shedding 0.25% to trade at a one-month low of 1.0001.
In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.4% in August, broadly in line with market expectations.
July figure was revised up to a 0.1% increase from a previously reported flat reading.
Total retail sales rose by a seasonally adjusted 0.5% in August, above expectations for a 0.4% increase. July’s figure was revised to a 0.5% decline from a 0.6% drop.
Gains were reported in 6 of 11 subsectors, representing 70% of retail sales. The increase was led by higher sales at gasoline stations and motor vehicle and parts dealers.
Retail sales rose in eight provinces in August. The largest sales gain in dollar terms occurred in Ontario, where sales rose 0.9%. This marked the fourth increase in five months.
Following the release of the data, the Canadian dollar added to gains against its U.S. counterpart, with USD/CAD shedding 0.25% to trade at a one-month low of 1.0001.