Forex - Canadian Retail Sales up 0.6% in April. | CountingPips Forex & Currency Trading Blog

June 20, 2008 - Forex Economic News

Forex - Canadian Retail Sales up 0.6% in April.

Canadian Retail Sales increased in April according to a report by Statistics Canada released today. April retail sales bumped up 0.6 percent to $35.6 billion and followed up a revised no change in March. The rise in Retail sales was exactly the same as anticipated by economic forecasts. Providing a boost to the retail sales numbers were retail store sales in clothing & accessories, general merchandise and furniture, home furnishings and electronics. Clothing & accessories contributed the highest gain for the month with an increase of 2.8 percent. Gasoline station sales showed a 1.9 percent increase for the month and gasoline sales have increased 15.5 percent since April 2007. Quebec was Canada's best performing provence in April with a rise of 3.4 percent in retail sales while Saskatchewan has shown an increase of 12.5 percent in sales since April of 2007.

Core retail sales or sales minus automobiles showed an increase of 1.1 percent in April which was above market forecasts that were predicting a 0.6 percent increase. March's core retail sales produced a revised increase of 0.1 percent.

Tags: canada retail sales, cad, currency trading, statistics canada, core sales

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