Canadian retail sales fell 2.5% to $61.3-billion in July; small gain forecast for August

Canadian retail sales fell 2.5% to $61.3-billion in July; small gain forecast for August

Statistics Canada says retail sales fell 2.5 per cent to $61.3-billion in July, the first drop in seven months as sales at gasoline stations and clothing and clothing accessories stores decreased. However, the agency says its initial estimate for August pointed to a gain of 0.4 per cent for the month, but noted the figure will be revised. Statistics Canada says the July sales were down in nine of the 11 subsectors it tracks, representing 94.5 per cent of retail …