UPDATE 2-Canadian August retail sales rise, GDP to show growth

Tue Oct 22, 2013 10:53am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Retail sales +0.2 pct from July; forecast +0.3 pct

* Retail ex-autos +0.4 pct; forecast +0.2 pct

* Retail gain follows wholesale data release of +0.5 pct

* Data so far points to modest economic growth in August

By Randall Palmer

OTTAWA, Oct 22 (Reuters) - Canadian retail sales rose modestly in August, their second consecutive monthly rise, according to Statistics Canada data on Tuesday that pointed to similarly modest economic growth for the month.

The 0.2 percent rise in retail sales just missed the 0.3 percent consensus in a Reuters survey of analysts, after a downwardly revised 0.5 percent rise in July. Excluding motor vehicle and parts dealers, sales rose 0.4 percent, beating street expectations of a 0.2 percent gain.

The volume of sales, used in calculating real gross domestic product (GDP), was also up by 0.2 percent.   Continued...