Investing.com – Core retail sales in Canada were unexpectedly flat in July, official data showed on Thursday.
In a report, Statistics Canada said core retail sales, which exclude automobile sales, were flat in July, confounding expectations for a 0.2% gain.
June’s figure was revised to a flat reading from a previous reported decline of 0.1%.
Retail sales fell by a seasonally adjusted 0.6% in July, worse than the expected 0.3% decline. June’s figure was revised up to a gain of 0.8% from a previously reported 0.7%.
Lower sales were reported in 7 of 11 subsectors, with motor vehicle and parts dealers accounting for most of the decline.
Retail sales fell in eight provinces in July, with Ontario reporting the largest decrease in dollar terms, with sales down 0.7%.
Following the release of the data, the Canadian dollar was down sharply against its U.S. counterpart, with USD/CAD rallying 2.68% to trade at 1.0351.
In a report, Statistics Canada said core retail sales, which exclude automobile sales, were flat in July, confounding expectations for a 0.2% gain.
June’s figure was revised to a flat reading from a previous reported decline of 0.1%.
Retail sales fell by a seasonally adjusted 0.6% in July, worse than the expected 0.3% decline. June’s figure was revised up to a gain of 0.8% from a previously reported 0.7%.
Lower sales were reported in 7 of 11 subsectors, with motor vehicle and parts dealers accounting for most of the decline.
Retail sales fell in eight provinces in July, with Ontario reporting the largest decrease in dollar terms, with sales down 0.7%.
Following the release of the data, the Canadian dollar was down sharply against its U.S. counterpart, with USD/CAD rallying 2.68% to trade at 1.0351.