UPDATE 1-Canada September retail top expectations, seen up 0.8% in October

OTTAWA, Nov 24 (Reuters) – Canadian retail sales exceeded expectations to grow by 0.6% in September from August, and were seen likely to gain 0.8% in October, data showed on Friday. Sales had been forecast to stay flat versus August. September retail sales totaled C$66.46 billion ($48.5 billion), Statistics Canada said. The increase was led by motor vehicle and parts dealers and gas stations. “Canadian retail spending rebounded heading into the holiday season,” said Tiago Figueiredo, an economist at Desjardins Group. “After accounting for this latest data, our forecasts suggest little to no real GDP growth in the third quarter and we are only projecting a modest pickup for the fourth quarter.” Excluding gasoline and auto sales, nominal core retail…

Source: Yahoo! Finance
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