Auto and parts sales led the increase
Retail sales in Canada were a tick softer than expectations in August, rising 1.2 per cent month over month to $74.6 billion.
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Sales climbed in all nine subsectors, according to new Statistics Canada data on Friday. Economists had predicted sales would rise by 1.3 per cent.
Auto and parts dealers, led the increase, rising 1.2 per cent on higher sales of new cars and parts, accessories and tires. However, those gains were partially offset by lower sales at used car dealers and “other motor vehicle dealers.”
Sales at gasoline stations and fuel vendors were up 1.7 per cent in August, the first increase in three months. In volume terms, sales in this subsector decreased by 0.5 per cent.
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Core retail sales, which exclude autos and parts and gasoline and fuel vendors, increased by 1.1 per cent after declining 0.7 per cent in July. This was led by higher sales in the food and beverages subsector, general merchandise retailers and health and personal care retailers.
In volume terms, retail sales increased by 1.2 per cent in August.
Preliminary estimates suggest retail sales rose by 0.7 per cent in September, but Statistics Canada officials said that figure may be revised.
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