Canadian Retail Sales Rise by 0.6% in July

Retail Sales in Canada increased by 0.6% in July to $52.9 billion, the data published by Statistics Canada showed on Friday. This reading followed June’s increase of 0.7% and fell short of the market expectation of 1%.

“Core retail sales, which exclude these two subsectors, declined 1.2% on lower sales at building material and garden equipment and supplies dealers as well as food and beverage stores,” the publication read. “Overall, the recovery in total retail sales has been V-shaped, with sales in June and July, respectively, rebounding from the record low observed in April. “