REPORT: Canada Retail Sales Fall 0.3%

Retail sales in Canada fell unexpectedly in August, dropping by 0.3% instead of the forecast 0.5% increase.

Canadian retail sales fell by 0.3% in August. Sales fell in 8 of 11 sectors, and sales volumes were down 0.7%, representing the biggest drop since March of 2016.

Sales were down 2.5% at food and beverage stores, due to fewer sales at grocery stores and supermarkets. Spending on furniture and building materials also declined.

Auto sales and auto parts sales were one of the few sectors to increase, with sales going up by 0.7%.

The decline in retail sales would have been even worse, if not for increased sales at gas stations. Sales at gas stations were up 3.1% in August, though this was mostly because of higher prices, not more volume.

After the retail sales data was released, the Canadian dollar fell below 80 cents US.

Slowing economy

Negative economic data has been accumulating as of late, as record household debt, rising deficits, falling exports, and a widening trade deficit raises concerns about the future of the Canadian economy.

Spencer Fernando

2 comments Add yours
    1. I Commend Sebastian Kurz for giving Soros 28 days to Cease Operations of Soros’s Open Society Foundation for attempting to undermine the democracy of Austria or face Legal Action. This new 31 year old new Chancellor of Austria is very Smart, Loves his Country and is in Control of Austria in a Positive Way. This is the type of Leader that we should have. I wish we had someone like Kurz for Prime Minister. Kurz will No Longer Stand for Soros. Soros is Evil. Trudeau does everything that Soros tells him to do, including undermining our democracy which is so apparent. Trudeau wants to look “Good” on the World Stage and wants to get a seat on the United Nations, another Corrupt Organization. He does not care about Canada or Canadians. It is ALL about Himself. Trudeau and Soros are both Evil and are destroying Canada and the lives of Canadians.

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