The amount of total retail sales for Canadian retailers increased slightly in August, which has many economists hoping for improvement although the country continues to be slow in its recovery from the recent recession.

According to a recently released report from Statistics Canada, retail sales for August reached $39.1 billion Canadian dollars ($39.36 billion), representing a 0.3 percent increase from the previous month. There were some sectors that saw more growth than others, including sporting goods, booksellers and department stores. The source reports that retail sales have increased 2.7 percent year-over-year.

However, Fox Business states that the Canadian economy is still looking for stronger signs of improvement, as the recent numbers actually dropped slightly by 0.3 percent when looking at them on a volume basis. This slight decrease could impact the nation's gross domestic product for August, although those numbers have not yet been made available. Higher food prices are both helping and hurting conditions, as the rise in expenses is one contributor to the initial rise in retail sales amounts for August. However, the higher costs could be having a negative impact on Canadians, as consumers continue to struggle financially, the website states.

This entry was posted by Retail Pro on Thursday, October 25th, 2012 at 3:27 am .