August retail sales rebound on gas, autos

Tue Oct 25, 2011 8:44am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

OTTAWA (Reuters) - Canadian retail sales rebounded by 0.5 percent in August from July, pushed up by higher sales at gas stations and auto dealerships, Statistics Canada said on Tuesday.

The increase was greater than the 0.3 percent advance predicted by analysts. Statscan revised July's drop to 0.5 percent from an initial 0.6 percent fall.

The strong data will reinforce market expectations of a return to growth in the third quarter after a 0.4 percent decline in second quarter GDP on an annualized basis.

Gas stations recorded a 1.9 percent increase in August, more than offsetting declines in June and July. Sales at motor vehicles and parts dealers increased by 1.0 percent.

Sales were higher in six of 11 subsectors, accounting for 70 percent of the total, and in volume terms sales rose by 0.3 percent.

(Reporting by David Ljunggren; Editing by Theodore d'Afflisio)

<p>A worker paints price tags in the used car lot at a Chrysler car dealership in Toronto, April 30, 2009. REUTERS/Peter Jones</p>