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Canada retail sales fall less than expected in July

The report showed core weakness, with retail sales volumes down 1.1%, while e-commerce dropped 3.5% and Ontario retail sales fell 2.0%.

Reported · Written up by our desk · Major Pairs

Canada’s retail sales slipped 0.7% in July, according to Statistics Canada, narrowly beating economists’ expectation for a 0.8% decline. The prior month was revised up to a 0.6% increase.

Details were weaker beneath the headline, with sales falling in eight of nine subsectors. The larger drop in volume than in dollar sales indicated consumers bought fewer goods rather than just facing lower prices, and retail sales excluding autos also declined 0.7%.

By province, Ontario posted the largest decline in dollar terms, down 2.0%, while Alberta rose 1.4%. Retail e-commerce sales fell 3.5% and were 7.5% of total retail trade, down from 7.7% in June.

A key offset came from Statistics Canada’s early estimate for August, which points to a 1.3% rebound. The estimate is based on responses from 57.8% of surveyed companies and can change as more data arrive, according to the report.

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