UPDATE 1-Canada August retail sales beat expectations

* Aug retail sales up 0.5 pct; market expected no change

* Sales ex-autos up 0.4 percent; volumes rise 0.3 percent
(Adds detail)

OTTAWA, Oct 22 (BestGrowthStock) – Canadian consumers returned to
the stores in August, with retail sales up more than expected
in the month versus July, helped by a rebound at furniture
stores and a lift in gasoline prices, Statistics Canada said on
Friday.

Consumer spending had been one of the main engines of the
economic recovery earlier in the year, but had faltered in
recent months, partly due to the introduction of new tax
regimes in several regions of the country.

Total retail sales were up 0.5 percent in the month. The
market had expected a flat reading, according to the median of
a Reuters poll. Statscan also revised its July retail sales
figure to show a 0.1 percent rise versus its initial estimate
of a 0.1 percent drop.

Excluding autos, August sales were up 0.4 percent.

Total sales volumes were up 0.3 percent. Gains were
recorded in 6 of the 11 subsectors representing 70 percent of
total sales, Statscan said.

Gasoline sales rose the most in dollar terms, up 2.1
percent. Furniture and home furnishing stores also saw a 2.1
percent rise, following two months of declines.

The biggest decrease came in the sporting goods, hobby and
music stores subsector, which was down 1.8 percent.

Sales of motor vehicles and parts grew 0.7 percent, led by
automotive parts and accessories.
(Reporting by John McCrank and Howaida Sorour)

UPDATE 1-Canada August retail sales beat expectations