Canadian Manufacturing

Retail sales rose 0.4% in August to $53.2B, Statistics Canada reports

It was the fourth consecutive monthly increase for retail sales since a record drop in April

October 21, 2020  The Canadian Press

OTTAWA — Statistics Canada says retail sales rose 0.4% to $53.2 billion in August.

It was the fourth consecutive monthly increase for retail sales since a record drop in April, when pandemic-related restrictions shuttered most non-essential businesses.

Economists on average had expected an increase of 1.1%, according to financial data firm Refinitiv.

Sales at building material and garden equipment and supplies dealers rose 4.5%, while sales at food and beverage stores climbed 0.8%.

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Retail sales in volume terms were up 0.5% in August.

The results came as Statistics Canada says an preliminary estimate for September suggests retail sales were relatively unchanged for the month, but added that the figure will be revised.


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