Retail sales in Canada unexpectedly dipped in July as consumers cut spending on furniture, appliances and electronics.
Sales declined 0.1% to $35.9 billion, the third drop in four months. Economists surveyed by Bloomberg anticipated a 0.6% gain. Sales in volume terms fell 0.2%.
Statistics Canada also reported this morning that its index of leading indicators of economic growth rose 0.5% in August.
This matches its average increase over the previous two months.
Orders for durable manufactured goods rose 5.2%, continuing growth which began last November.
The housing index declined 4.0%, which in turn pushed furniture and appliance sales down for a second straight month.
Spending on other durable goods rebounded 1% after five straight monthly drops.
