Canada's retail sales rise 0.3% in July, lower than estimates

By Ovunc Kutlu

ISTANBUL (AA) - Canada's retail sales rose 0.3% in July, compared to the previous month, and reached $66.1 billion, the country's statistical authority said Friday.

Markets expected the figure to show a gain of 0.4%, while retail sales increased 0.1% in June.

In July, sales increased in seven of the nine subsectors, as they were led by increases at food and beverage retailers with a gain of 1.3%, Statistics Canada said in a statement.

Core retail sales, which exclude gas stations and motor vehicle and parts dealers, were up 1.3% in July, following a 0.9% decline in June.

Core retail figures in July were led by higher sales at food and beverage retailers with a gain of 1.3% and general merchandise retailers that rose 1.8%.