FXStreet (Mumbai) – Statistics Canada today released data to show October retail sales posted a small rise of 0.1 per, lower than the 0.3 per cent rise expected. The data showed that the sales actually fell by 0.3 per cent in terms of volume.
The impact of higher sales in the motor vehicles and clothing category was offset by a fall recorded at food stores. Sales at motor vehicle and parts dealers increased 0.4 per cent, marking the eighth increase in nine months. Clothing and accessories stores were up 1.9 per cent.
Lower sales at supermarkets and stores selling alcohol led to fall in food purchase by food purchased fell by 1.2 per cent. Sales at electronics and appliance stores also fell. Sales were down 2. 1 per cent at electronics and appliance stores.
Ontario and Quebec posted higher sales in October. Retail sales however fell in British Columbia, Alberta and Nova Scotia declined. Alberta has been hit by oil slump and saw its retail sales fall for the third month in a row. Sales in Alberta, fell 0.8 per cent.
September retail sales were revised up slightly to a decline of 0.4 per cent from the 0.5 per cent fall reported earlier.
(Market News Provided by FXstreet)