Canada: Retail Sales Decline by 0.6% in July

Retail Sales in Canada contracted by 0.6% on a monthly basis in July, the data published by Statistics Canada showed on Thursday. This reading followed June’s increase of 4.2% and came in slightly better than the market expectation for a decrease of 1.2%. Excluding cars, Retail Sales in Canada declined by 1% in the same period, compared to analysts’ estimate for a decline of 1.5%.