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This Article is From Nov 23, 2018

Canada Retailers End Third Quarter With Unexpected Sales Gain

(Bloomberg) --

Canadian retailers recorded an unexpectedgain in sales in September, a firmer than anticipated ending toa weaker third quarter.

Retailers saw a 0.2 percent gain during the month, StatisticsCanada reported Friday from Ottawa. Economists expected nogrowth. Sales for August were revised to show no change, versusan initial estimate of a 0.1 percent decline.

The nation's retailers had been coming off a sluggish summer, apause consistent with a broader trend of slowing consumerspending this year as households cope with higher borrowingcosts.

The September gain however meant sales through the third quarterended up with a 0.9 percent gain, less than the 1.1 percentincrease in the second quarter. In volume terms, adjusting forprice increases, retail sales rose 0.4 percent in the thirdquarter, down from 0.9 percent the previous quarter.

Sales volumes were up 0.5 percent in September.

During the month, sales were up in six of 11 subsectors trackedby Statistics Canada, representing 75 percent of retail trade.

A 0.9 percent gain in food and beverage stores led increases,along with higher sales at car dealerships and clothingretailers. Excluding cars, retail sales were up 0.1 percent.Sales at gas stations fell 1.1 percent in September as pricesfell.

©2018 Bloomberg L.P.

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