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The Canadian Statistics Agency says that retail sales increased by 0.7% in August

The Canadian Statistics Agency says that retail sales increased by 0.7% in August

By Omayma othmani

Published: October 21, 2022

The Canadian Statistics Agency says retail sales rose by 0.7 percent to reach 61.8 billion dollars in August. However, the agency says its preliminary estimate for September indicates that retail sales may have decreased by 0.5 percent for that month, although it warned that the figure could be revised. Retail sales also increased in six of the eleven subsectors in August. In this regard, sales in food and beverage stores rose by 2.4 percent during August, while sporting goods, hobby, book, and music stores added 5.0 percent. Likewise, sales at car dealers and parts stores increased by 0.6 percent. Additionally, core retail sales, which exclude gasoline stations and car dealers and parts stores, rose by 0.9 percent. Also, in terms of volume, the Canadian Statistics Agency says retail sales increased by 1.1 percent in August. It is worth noting that the index measures the change in the total value of inflation-adjusted sales at the retail level. This index is a measure of the value of goods sold by retailers based on a sample of retail stores of various types and sizes.

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