- 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.
The USDCAD is little changed after the report. Yesterday, the price stalled at the high against the 100 and 200 hour moving averages. Those moving averages for topside resistance. On the downside, an old consolidation area between 1.3931 and 1.3970 are the downside targets.
