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Oct 24, 2022

Retail Sales See Small Increase

Retail sales increased 0.7 per cent to $61.8 billion in August, says Statistics Canada. Sales increased in six of 11 subsectors, including building material and garden equipment and supplies dealers where sales rose 0.6 per cent. These six subsectors represent 65 per cent of retail trade. Core retail sales ‒ which exclude gasoline stations and motor vehicle and parts dealers ‒ increased 0.9 per cent. In volume terms, retail sales were up 1.1 per cent and core retail sales increased 0.9 per cent, the largest increase since March 2022. The largest decline to retail sales occurred at general merchandise stores. Sales fell 0.7 per cent, posting the largest decline since February 2022. Retail sales increased in six provinces in August, led by British Columbia where sales rose two per cent. In the Maritime provinces, retail sales were down 2.1 per cent in New Brunswick, down 1.3 per cent in Nova Scotia, and down 2.6 per cent in Prince Edward Island. On an unadjusted basis, retail eCommerce sales were up 8.1 per cent year over year to $3.5 billion in August, accounting for 5.2 per cent of total retail trade. The share of eCommerce sales out of total retail sales was unchanged compared with August 2021.

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