Canada August retail sales data:
- Prior was +0.4% (revised to +0.6%)
- Sales up 1.1% y/y
- Ex autos -0.2% vs 0.0% exp
- Prior ex autos -0.1%
- Ex autos and gas -0.1%
Details:
- Gasoline stations -0.4%
- Clothing -0.9%
- Food and beverage stores -0.8%
- New car dealers +0.4%
- Used car dealers -1.7%
- Furniture and home furnishings -0.1%
Gasoline was expected to be soft but the weakness is fairly widespread in a poor sign for the Canadian consumer that's boosted USD/CAD about 20 pips higher. The good news is that the prior month was revised a bit higher.
