UPDATE 2-Canada may be set for growth spurt after July retail bounce

Tue Sep 24, 2013 10:55am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Retail sales rise 0.6 percent in July from June

* Sales ex-autos climb 1 percent

* Gasoline stations report biggest jump, up 3.2 percent

By Louise Egan

OTTAWA, Sept 24 (Reuters) - Canadian retail sales rose a solid 0.6 percent in July, making up for losses in June and setting up the economy to show firm growth in the month and in the third quarter after a recent rough patch.

Sales growth was pumped largely by gasoline stations, where both prices and volumes rose, according to a Statistics Canada report on Tuesday.

In volume terms, retail sales rose 0.5 percent in the month.

The July rebound matched the median forecast in a Reuters poll. Analysts had foreseen a bounce-back after sales slumped by 0.6 percent in June, hit partly by severe floods in Alberta and a two-week strike by construction workers in Quebec.   Continued...