Statistics Canada says retail sale fell 0.1 per cent in August to $51.5 billion as sales at food and beverage stores dropped. A few shoppers browse the sprawling New Horizon Mall in Calgary on Tuesday, March 19, 2019. THE CANADIAN PRESS/Dave Chidley

Statistics Canada says retail sale fell 0.1 per cent in August to $51.5 billion as sales at food and beverage stores dropped. A few shoppers browse the sprawling New Horizon Mall in Calgary on Tuesday, March 19, 2019. THE CANADIAN PRESS/Dave Chidley

Statistics Canada reports retail sales edged down 0.1 per cent in August

Sales at gasoline stations fell 0.4 per cent as a result of lower prices at the pump

Statistics Canada says the value of retail sales fell 0.1 per cent in August to $51.5 billion, with price reductions accounting for most of the the unexpected decline.

Economists on average had expected an increase of 0.4 per cent for August, according to the financial markets data firm Refinitiv.

CIBC economist Royce Mendes says the weakness affected nearly half of the subsectors tracked by Statistics Canada and noted that total volumes were up, indicating the pullback was due to lower prices.

Statistics Canada says sales at food and beverage stores fell 0.8 per cent in August, the first move down from the sector in three months.

Meanwhile, sales at gasoline stations fell 0.4 per cent as a result of lower prices at the pump, while gasoline sales rose 2.8 per cent in volume terms.

Sales at general merchandise stores gained 0.8 per cent and motor vehicle and parts dealers rose 0.1 per cent.

In volume terms, retail sales increased 0.2 per cent in August.

ALSO READ: Teen bookworms could be setting themselves up for richer future, study suggests

The Canadian Press


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