Retail sales in Canada edged down in August

Market news

21 October 2016

Retail sales in Canada edged down in August

Retail sales edged down 0.1% to $44.0 billion in August. Lower sales at motor vehicle and parts dealers, and general merchandise stores were the main contributors to the decline. Excluding these two subsectors, retail sales were up 0.2%.

Sales were down in 7 of 11 subsectors, representing 57% of retail trade.

After removing the effects of price changes, retail sales in volume terms decreased 0.3%.

The Canadian dollar fell sharply against the US dollar, approaching 13 October low. Pressure on the currency put disappointing data on retail sales and inflation. USD / CAD is trading at 1.3295, with an increase of 0.47%

Canadian inflation increases slower than expected. USD/CAD up 70 pips so far

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