Investing.com - Canadian retail sales slowed unexpectedly in June, but figures for the prior month were revised higher, according to data released on Wednesday.
Statistics Canada reported that retail sales fell 0.2% in June, after an upwardly revised 2.2% increase in the previous month. Economists had forecast an increase of 0.1%.
Core retail sales, which excludes automobiles, fell 0.1%, in line with forecasts. Figures for the previous month were revised up to 1.7% from a previously reported 1.7%
After increasing 5.2% in May, sales at gasoline stations decreased 2.3%, in part due to lower prices at the pump in June. In volume terms, sales at gasoline stations decreased 0.4%.
Sales at motor vehicle and parts dealers fell 0.7%, the second decline in three months. Lower sales at new car dealers and automotive parts, accessories and tire stores accounted for the majority of the decline, the report said.
Food and beverage sales increased by 0.9%, while sales at building material and garden equipment stores also increased.
On a quarterly basis, retail sales were up 1.0% in the second quarter following a 0.5% decrease in the first quarter. In volume terms, retail sales increased 0.9% in the second quarter.
The Canadian dollar was higher against its U.S. counterpart following the report, with USD/CAD down 0.15% to 1.3016 by 08:33 AM ET (12:33 GMT) from around 1.3027 earlier.