Canadian Sales Fell in July

Canadian retail sales fell in July, dropping unexpectedly for the first time in seven months.

Analysts say the drop stems from lower receipts at general merchandise stores. Overall, retail sales decreased 0.1 percent to C$42.5 billion ($38.7 billion U.S.), according to Statistics Canada, reports Bloomberg News.

Sales declined in five of 11 retail categories. General merchandise, department stores and discount retailers declined 2.7 percent. Receipts at apparel and accessories stores fell 2.3 percent.