Numbers to watch out

Numbers to watch out

The sales in different sectors show some caution from the Canadians, who are observing how not to spend unnecessarily.

Instead the predictions, Canadian retail sales rose far less than expected in September as the boost from higher gasoline prices was offset by a decline in purchases of vehicles and clothing, data from Statistics Canada showed on Thursday.

The crystal ball set by the economists was short in the forecasts.

There was a 0.1% increase for a gain of 0.9%, while volumes fared worse, declining by 0.6%.

August’s sales were upwardly revised to a decline of 0.1% from the initially reported 0.3% decrease.

Gasoline burns budgets and sales rose for the second month in a row in September, up 2.6%, as supply disruptions caused by Hurricane Harvey in the United States lifted prices at the pump.

On the other sidewalk, sales of motor vehicles were tempered by a 0.5% decline as Canadians bought fewer new and used cars. It was the first time vehicle sales declined since June. Excluding vehicles, retail sales were up 0.3%.

A 2.8% decline in sales of clothing and accessories also weighed on overall retail sales. In all, sales were up in just five out of 11 sectors, accounting for 52% of retail trade.

Sales at stores associated with home purchases was one source of strength, with building material and garden equipment sales up 2.6%, while furniture purchases increased by 2.3%.


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