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09/23/2022

Retail sales fell 2.5% to $61.3 billion in July: StatsCan

July sales were down in nine of the 11 subsectors tracked by the agency, representing 94.5% of retail trade

Statistics Canada says retail sales fell 2.5% to $61.3 billion in July, the first drop in seven months as sales at gasoline stations and clothing and clothing accessories stores decreased.

However, the agency says its initial estimate for August pointed to a gain of 0.4% for the month, but noted the figure will be revised.

Statistics Canada says the July sales were down in nine of the 11 subsectors it tracks, representing 94.5% of retail trade.

Sales at gasoline stations fell 14.% for the month as gasoline prices fell 9.2% and sales at gasoline stations in volume terms decreased 7%. Sales at clothing and clothing accessories stores dropped 3.%

Core retail sales -- which exclude gasoline stations and motor vehicle and parts dealers -- fell 0.9%

In volume terms, retail sales fell 2% in July.

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