- The advanced July report was +0.7%
- Prior was +1.5%
- Ex-autos -1.2% vs -0.7% expected
- Prior ex-autos +1.9%
- Sales down in 8 of 9 subsectors
- Advance August report +1.0%
The cardholder data from RBC earlier this week showed headline sales down 2.2% but core sales up 0.4% The advanced reading from Statistics Canada was much stronger with a +1.0% reading. There have been some reports of North American retailers highlighting that Canadian consumers have held up better than in the USA.
Details for July:
- Sales at motor vehicle and parts dealers edged up 0.2% in July
- food and beverage retailers -1.3% with supermarkets down 2.5%
- Clothing -3.2%
This article was written by Adam Button at investinglive.com.