Canada retail sales for October 0.6% versus 0.7% expected

• Prior month 0.4% revised to 0.6%
• Canada retail sales 0.6% vs 0.7% expected
• ex Auto 01% versus 0.5% expected.
• Prior month ex auto revised higher to 1.1% from 0.9%
• Core retail sales—which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers—were up 0.2% in October
• Sales were up in five of nine subsectors and were led by increases at motor vehicle and parts dealers

Looking at the details of the report:

• The largest increase in retail sales in October was observed at motor vehicle and parts dealers (+2.0%). Higher sales at new car dealers (+2.5%) led the increase, followed by used car dealers (+2.5%). Automotive parts, accessories and tire retailers (-3.3%) were the only store type within this subsector to record a decrease in October.
• Sales at gasoline stations and fuel vendors (-0.5%) were down for a sixth consecutive month in October. In volume terms, sales at gasoline stations and fuel vendors decreased 4.7%, following an increase of 4.1% in September.

The advanced report for November

• Advance estimate suggests retail sales were relatively unchanged in November.
• Figure is unofficial and subject to revision.
• Based on responses from 50.6% of surveyed companies.
• Average final survey response rate over the past year was 88.7%.

This article was written by Greg Michalowski at www.forexlive.com.