Canada retail sales
- Prior month +0.1% (was expecting 0.0%)
- The July advanced estimate last month was for a 0.4% gain
- Retail sales for July 0.3% versus 0.4% expected. Sales advanced in 7 of the 9 subsectors led by an increase in food and beverages of 1.3%
- Ex Auto 1.0% vs 0.5% expected.
- Prior month ex auto was -0.8% revised to -0.7%
- August advanced estimate -0.3%
- e-commerce sales were up 2.4% accounting for 6% of the total retail trade (compared with 5.9% in June)
- July YoY sales 2.0% vs -0.6% prior
- Sales ex Autos YoY 0.4% vs -3.3% last month
A look at the subsectors shows that 7 of the 9 were higher. Motor vehicles and part dealers were the biggest decline with a -1.6%. This was the 1st client for months. Lower sales of new car dealers -1.7% led to a decrease, followed by a used car dealers -3.1%.
Lower sales a gasoline stations and fuel vendors (-0.7% also weighed on retail sales in July. In volume terms sales decreased -1.0% for the month.
Canada retail sales for July