Retail sales inched adult in September, though usually since of aloft gas prices

Retail sales inched adult 0.1 per cent to $49.1 billion in Sep mostly since of aloft prices during gas stations.

Statistics Canada reported Thursday that sell sales were adult in 5 of 11 sectors of a economy that a group tracks.

But gas stations were totally obliged for a gain. If sales during gas stations are nude out, sales fell 0.2 per cent. 

In volume terms, sales for a month were down 0.6 per cent.

September saw neatly aloft Canadian gas prices since Hurricane Harvey during a finish of Aug knocked U.S. enlightening ability offline. 

• Hurricane Harvey could pull adult Canadian gas prices by 10 cents

“The usually reason since a dollar value of sales stayed certain was since of aloft prices,” Scotiabank economist Derek Holt said.

Sales were down in half of a provinces, and Scotiabank remarkable that contractions in dual of a final 3 months in both Alberta and Saskatchewan advise a serve cooling of a restrained spending direct that was unleashed in a oil patch in a initial entertain following dual years of recession.

Bank of Montreal economist Benjamin Reitzes said a numbers come as a sobering pointer that a economy is cooling down a little, after a Bank of Canada hiked the benchmark rate twice this year.

“Canadian consumer spending appears to have cooled after a really clever initial half of 2017,” Reitzes noted.

Article source: http://www.cbc.ca/news/business/retail-sales-1.4415657?cmp=rss