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Retail Sales Up For Third Straight Month In Sept As Rates Fall

CANADA DATA
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  • Canadian Sept flash retail sales +0.4% and Aug sales also +0.4%, Statistics Canada says Friday.
  • July sales also affirmed at +0.9%. It's the first time in just over two years sales have climbed for three consecutive months. 
  • Strength in consumer spending lines up neatly with the Bank of Canada's interest-rate cuts that began in June. The momentum runs against pessimism that Q3 GDP growth was lagging central bank estimates. 
  • StatsCan didn't provide a breakdown of Sept sales drivers, but the Aug gain was led by new cars +4.3%, biggest gain in a year. Strength in autos seen as a big-ticket item linked to financing costs was blunted by -1.4% in furniture, electronics and appliances.
  • Aug sales volumes were also better than headline figure at +0.7%. Gasoline sales -2.7% while volumes -2.1%.
  • On a softer note, StatsCan said flash Sept factory sales -0.8%.
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  • Canadian Sept flash retail sales +0.4% and Aug sales also +0.4%, Statistics Canada says Friday.
  • July sales also affirmed at +0.9%. It's the first time in just over two years sales have climbed for three consecutive months. 
  • Strength in consumer spending lines up neatly with the Bank of Canada's interest-rate cuts that began in June. The momentum runs against pessimism that Q3 GDP growth was lagging central bank estimates. 
  • StatsCan didn't provide a breakdown of Sept sales drivers, but the Aug gain was led by new cars +4.3%, biggest gain in a year. Strength in autos seen as a big-ticket item linked to financing costs was blunted by -1.4% in furniture, electronics and appliances.
  • Aug sales volumes were also better than headline figure at +0.7%. Gasoline sales -2.7% while volumes -2.1%.
  • On a softer note, StatsCan said flash Sept factory sales -0.8%.