Statistics Canada says retail sales dropped 1.2 per cent in October

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OTTAWA — Statistics Canada says retail sales fell 1.2 per cent to $50.9 billion in October as sales at motor vehicle and parts dealers as well as building material and garden equipment and supplies dealers declined.

Economists on average had expected an increase of 0.5 per cent for the month, according to financial markets data firm Refinitiv.

Statistics Canada says sales fell in eight of 11 subsectors, representing 81 per cent of retail trade.

Sales in the motor vehicle and parts dealers subsector fell 3.2 per cent as sales at new car dealers declined 3.0 per cent and used car dealers dropped 5.2 per cent, the largest decrease since September 2017. Building material and garden equipment and supplies dealers saw sales fall 3.1 per cent.

Sales at gasoline stations rose 1.5 per cent in October, due to higher prices at the pump.

Retail sales in volume terms fell 1.4 per cent.