Statistics Canada reports retail sales down 0.7% in July at $73.7B

Statistics Canada says retail sales fell 0.7% to $73.7 billion in July as sales at general merchandise retailers slowed.

However, the agency says its early estimate for August pointed to a gain of 1.3% for that month, though it cautioned the figure would be revised.

For July, sales at general merchandise retailers fell 1.9% after increasing 2.5% in June.

Sales at clothing, clothing accessories, shoes, jewelry, luggage and leather goods retailers also fell 1.2% in July, while sales at building material and garden equipment and supplies dealers gained 0.8%.

Core retail sales, which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers, were down 0.7% in July.

In volume terms, retail sales fell 1.1%.