Canada retail sales for August 1.0% versus 1.0% estimate

• Prior month -0.8%
• Retail sales for August 1.0% vs 1.0% estimate
• Retail sales ex Auto for August 0.7% vs 1.3% estimate. Prior month -1.2%
• Estimate for next month -0.7% for September
• sales increase in 6 of 9 subsectors on August. Declines in building materials and garden equipment, gasoline stations and fuel vendors, and sporting-goods and miscellaneous retailers.

Details:

• The largest increase in retail sales in August was observed at motor vehicle and parts dealers (+1.8%), up for a third consecutive month. The increase was led by higher sales at new car dealers (+2.3%) and, to a lesser extent, used car dealers (+1.5%).
• Sales at gasoline stations and fuel vendors (-2.0%) decreased for a second consecutive month in August. In volume terms, sales at gasoline stations and fuel vendors decreased 2.6%.
• Higher sales were also recorded at clothing, clothing accessories, shoes, jewelry, luggage and leather goods retailers, up 3.2% in August
• The largest decrease in core retail sales in August came from building material and garden equipment and supplies dealers (-0.3%).

Looking at the provinces:

• Retail sales increased in five provinces in August. The largest provincial increase in dollar terms was observed in Ontario (+1.2%) on higher sales at motor vehicle and parts dealers. In the census metropolitan area (CMA) of Toronto, retail sales were up 2.4% in the month.
• In Quebec, retail sales increased 1.8% in August, marking a third consecutive monthly increase. In the CMA of Montréal, retail sales were up 2.3%.
• The largest provincial decrease in retail sales in August was observed in Nova Scotia (-0.5%). This decrease was led by lower sales at motor vehicle and parts dealers.

This article was written by Greg Michalowski at investinglive.com.