164607
160393


Statistics Canada says retail sales rose 0.6 per cent in July

Retail sales inch up

Statistics Canada says retail sales rose 0.6 per cent in July to $52.9 billion, helped by higher sales at motor vehicle and parts dealers and gasoline stations.

Economists had expected an increase of 1.0 per cent for the month, according to financial markets data firm Refinitiv.

Statistics Canada says sales were up in six of 11 subsectors in July with the motor vehicle and parts dealers subsector contributing the most to the increase with a 3.3 per cent increase. Sales at gasoline stations rose 6.1 per cent.

However, the agency said core retail sales, which exclude those two subsectors, fell 1.2 per cent.

Sales at building material and garden equipment and supplies dealers fell 11.6 per cent, while sales at food and beverage stores dropped 2.1 per cent.

Retail sales in volume terms were up 0.4 per cent in July.

Meanwhile, wholesale sales rose 4.3 per cent in July to a record high of $65.0 billion, boosted by the motor vehicle and motor vehicle parts and accessories sub-sector.

Economists had expected an increase of 3.5 per cent in July, according to financial markets data firm Refinitiv.

Statistics Canada say the gains in July, the third consecutive month of growth, put wholesale sales up 0.6 per cent from the pre-COVID-19 level in February.



More Business News

162602
162153
Data from CryptoCompare
Recent Trending
163907
161338
Castanet Proud Member of RTNDA Canada
162889
Press Room
162259