FX & CFD trading involves significant risk
Retail sales were relatively unchanged for the third consecutive month in July, edging down 0.1% to $44.1 billion.
Sales were down in 5 of 11 subsectors. Excluding gasoline stations, retail sales increased 0.2%.
After removing the effects of price changes, retail sales in volume terms were up 0.3% in July.
Lower gas prices contribute to weaker sales at gasoline stations
Receipts at gasoline stations (-3.0%) fell for the first time in four months, with weaker sales recorded in every province. This decline reflected lower prices at the pump. According to the Consumer Price Index, the price of gasoline was down 5.6% on an unadjusted monthly basis in July.
Sales at furniture and home furnishings stores decreased 1.4%, as both furniture stores and home furnishings stores reported 1.4% declines.
Motor vehicle and parts dealers (-0.2%) recorded their fourth decline in five months. Within the subsector, sales at other motor vehicle dealers fell 4.1%. Sales at automotive parts, accessories and tire stores decreased 1.6%. Sales at new car dealers (+0.2%) were up for the second month in a row. Following four months of declines, used car dealers posted a 0.3% gain in July.
The Canadian dollar fell sharply against the US dollar on disappointing data on retail sales and consumer prices. USD / CAD is trading at 1.3117, with an increase of 0.57%. Important resistance - 1.3153
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.