Ekonomické zprávy
22.10.2021

Canada’s retail sales climb slightly more than expected in August

Statistics Canada announced on Friday that the Canadian retail sales jumped 2.1 percent m-o-m to CAD57.21 billion in August, following an unrevised 0.6 percent m-o-m fall in July.

Economists had forecast a 2.0 percent m-o-m surge for August.

According to the report, sales went up in 9 of 11 subsectors in August, accounting for 94.6 percent of total retail sales, led by higher sales at food and beverage stores (+4.8 percent m-o-m), gasoline stations (+3.8 percent m-o-m), and clothing and clothing accessories stores (+3.9 percent m-o-m). Meanwhile, sales at furniture and home furnishings stores (-2.4 percent m-o-m) and electronics and appliance stores (-1.6 percent m-o-m) witnessed declines.

Core retail sales, which exclude gasoline stations and motor vehicle and parts dealers, jumped 2.7 percent m-o-m in August. 

In y-o-y terms, Canadian retail sales surged 8.4 percent in August, following an unrevised 5.3 percent jump in July.

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