Canada: Retail Sales decline by 1.2% in October to $50.9 billion

Retail Sales decreased by 1.2% on a monthly basis in October to $50.9 billion in October, Statistics Canada reported on Friday. This reading missed the market expectation for an increase of 0.5% by a wide margin and weighed on the USD/CAD pair, which was last up 0.35% on the day at 1.3170.

"The decline was primarily attributable to lower sales at motor vehicle and parts dealers and at building material and garden equipment and supplies dealers," the publication explained. "After removing the effects of price changes, retail sales in volume terms decreased 1.4%."