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Statistics Canada released retail sales data today. Canadian retail sales dropped by 0.3% in August, missing expectations for a 0.2% increase, after a 0.1% decline in July. That was the largest drop this year.
The decline was driven by lower gasoline prices. Sales at gasoline stations fell 2.1% in August
Canadian retail sales excluding automobiles fell 0.3% in August, missing forecasts of a 0.3% gain, after 0.5% drop in July. July's figure was revised up from a 0.6% decrease.
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