Investing.com – Core retail sales in Canada rose more-than-expected in October, increasing for the third consecutive month, official data showed on Wednesday.
In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.7% in October, exceeding expectations for a 0.4% increase.
Core retail sales for September were revised down to a 0.4% gain from a previously reported 0.5% increase.
Total retail sales rose by a seasonally adjusted 1.0% in October, more than doubling expectations for a 0.4% gain. Retail sales for September rose by an unrevised 1.0%.
This marks the sixth increase in seven months and a third consecutive monthly gain.
Gains were reported in 7 of 11 subsectors, led by higher sales at motor vehicle and parts dealers and gasoline stations.
Following the release of the data, the Canadian dollar was fractionally higher against its U.S. counterpart, with USD/CAD easing down 0.05% to trade at 1.0293.
In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.7% in October, exceeding expectations for a 0.4% increase.
Core retail sales for September were revised down to a 0.4% gain from a previously reported 0.5% increase.
Total retail sales rose by a seasonally adjusted 1.0% in October, more than doubling expectations for a 0.4% gain. Retail sales for September rose by an unrevised 1.0%.
This marks the sixth increase in seven months and a third consecutive monthly gain.
Gains were reported in 7 of 11 subsectors, led by higher sales at motor vehicle and parts dealers and gasoline stations.
Following the release of the data, the Canadian dollar was fractionally higher against its U.S. counterpart, with USD/CAD easing down 0.05% to trade at 1.0293.