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MNI: Canada Retail Sales Rise For Third Straight Month

Bank of CanadaPolicy NewsCentral Bank NewsHomepageCanadaPolicy StoryStoryRegionNorth America

Canadian retail sales rose for a third straight month in September, showing some surprising Q3 momentum after the Bank of Canada's interest-rate cuts that began in June. 

Sales rose 0.4% in September according to a Statistics Canada flash estimate published Friday. This follows a 0.4% rise in August and a 0.9% rise in July. It's the first time in more than two years that there have been three straight months of retail sales growth.

While the flash figure didn't include an industry breakdown StatsCan said the gain in August included a rise in four of nine sub-sectors led by a 3.5% increase in autos.

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Canadian retail sales rose for a third straight month in September, showing some surprising Q3 momentum after the Bank of Canada's interest-rate cuts that began in June. 

Sales rose 0.4% in September according to a Statistics Canada flash estimate published Friday. This follows a 0.4% rise in August and a 0.9% rise in July. It's the first time in more than two years that there have been three straight months of retail sales growth.

While the flash figure didn't include an industry breakdown StatsCan said the gain in August included a rise in four of nine sub-sectors led by a 3.5% increase in autos.

Keep reading...Show less