Retail Sales Down in August

Retail - cart

CBJ — Figures released by Statistics Canada show the nation’s retail trade was down by a slight 0.1% in August – the second drop in three months – thanks, in part, to lower sales at gas stations and clothing and accessories stores.

In terms of cash, retail sales declined to $50.8 billion following a 0.2% increase in July. Sales slumped in seven of 11 subsectors – representing 52% of retail trade – in August.

For the first time in six months, clothing stores saw a decrease in sales of -1.1%.

Retail sales were down in four provinces with Quebec seeing the largest decrease followed by Saskatchewan. British Columbia and Alberta also posted declines for the month. All of the Atlantic provinces experienced gains in the retail sector while retail sales in New Brunswick grew for the fourth month in a row.

@CanBizJournal

Recommended
Inflation magnifying glassNick Clegg - Facebook - former UK Deputy PM