August Retail Sales Increase by 0.4% to $66.6 Billion, According to Statistics Canada

October 25, 2024 TruthUSA

Statistics Canada says retail sales rose 0.4 percent to $66.6 billion in August, helped by higher new car sales.

The agency says sales were up in four of nine subsectors as sales at motor vehicle and parts dealers rose 3.5 percent, boosted by a 4.3 percent increase at new car dealers and a 2.1 percent gain at used car dealers.

Core retail sales—which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers—fell 0.4 percent in August.

Sales at food and beverage retailers dropped 1.5 percent, while furniture, home furnishings, electronics and appliances retailers fell 1.4 percent.

In volume terms, retail sales increased 0.7 percent in August.

Looking ahead, Statistics Canada says its advance estimate of retail sales for September points to a gain of 0.4 percent for the month, though it cautioned the figure would be revised.