Canadian retail reverses slump in July

Posted on Sep 25, 2012 in Business | 0 comments

Canadian retail sales in July rebounded from monthly declines and reached $39 billion, a 0.7 percent increase, Statistics Canada reported Tuesday.

Leading the gainers were motor vehicle and parts dealers, whose retail sales increased 1.7 percent in July from a month earlier.

“Following three consecutive monthly declines, sales at building material and garden equipment and supplies dealers increased 1.9 percent,” StatsCan said. “Gasoline stations reported a 0.7 percent sales gain following declines the previous two months.”

In all, gains were reported in eight of 11 sectors, representing 72 percent of total retail trade in the country, the agency said.

Among the sectors that saw small declines were food and beverage stores, down 0.9 percent in July after rising in May and June. Beer, wine and liquor store retail sales declined for a second consecutive month by 0.5 percent.

Copyright 2012 by United Press International