Canada’s retail sales rise 1% in August, expected to dip in September

Canadian retail sales grew 1.0% in August, reaching C$70.4 billion ($50.3 billion), Statistics Canada reported Thursday. The increase was largely driven by stronger sales at motor vehicle and parts dealers.

Sales rose in six of the nine retail subsectors, accounting for 80.1% of total retail sales. In volume terms, retail activity also increased by 1.0%, News.Az reports, citing Reuters.

However, a flash estimate for September suggests a 0.7% decline in retail sales, signaling a potential cooling in consumer spending.

News.Az