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September Canadian Retail Sales Rise Unexpectedly on Auto-Sales

Posted:25/11/2008 14:07 by Farah Ragheb
Canadian Total Retail Sales in September were up 1.1% from a 0.3% decline prior marking the strongest rise in sales in 8 months and beating the consensus estimate for a 0.4% increase. The bulk of the rise was on Automotive sales up 2.2% led by a 2.9% increase in sales for New Car Dealers while Gasoline prices were up 1.7% and Used and Recreational Vehicles were up 1.2%. In constant dollars sales were up 0.7%. Retail Sales Ex-Autos were up 0.8% from a revised 0.2% drop prior still beating the consensus estimate for a 0.2% increase. The rapid growth in food prices since April led to an increase of 1.2% in the Food and Beverage sector, while General Merchandise which includes some food was also up 1.6%. Building and outdoor home supplies stores saw a 0.7% drop in sales from a 0.5% increase prior, marking this sector's first drop in sales since April. It should be noted that sales were also down 0.5% in Furniture, Home Furnishings and Electronics led by a 3.9% plunge in Computer and Software Store sales. click here to return to the top of the page
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