By CountingPips.com
Canadian Retail Sales increased by more than expected in September according to the monthly report released by Statistics Canada today. Retail sales increased by 1.0 percent to C$34.9 billion in September following a revised increase of 1.0 percent in August. The rise in retail sales surpassed economic forecasts that were predicting only a 0.6 
percent increase for the month. Canada’s retail sales have now increased in seven out of the last nine months.
Core retail sales, excluding automobile sales, advanced by 1.1 percent in September following a revised gain of 0.7 percent in August. The gain in core sales surpassed forecasts that were expecting a 0.4 percent increase.
Contributing to the rise in the retail sales numbers was an increase in the automotive sector by 1.0 percent with used & recreational motor vehicle & parts dealer sales increasing by 2.0 percent for the month. The food and beverages stores sector saw a 1.3 percent rise while furniture, home furnishings & electronic stores increased by 1.2 percent and pharmacies and personal care stores advanced by 0.5 percent. Negatively contributing to the monthly retail sales were decreases in General merchandise stores and miscellaneous retailers also saw gains of 1.9 percent and 1.7 percent, respectively for the month.
