Statistics Canada Reports Retail Sales up 0.6 per Cent in June at $74.3B
Statistics Canada said sales reached $74.3 billion in June, led by general merchandise gains, while a preliminary July estimate pointed to a 0.8% decline.
- On Friday, Statistics Canada reported retail sales rose 0.6% to $74.3 billion in June, beating analyst expectations of 0.4%, though a preliminary estimate for July points to a 0.8% decline.
- General merchandise retailers led the gains with a 2.7% increase, while clothing and accessories retailers added 3.1%, with sales rising across seven of nine subsectors in June.
- Sales at gasoline stations and fuel vendors fell 4.1%, their first decline in four months, while purchases at food and beverage retailers dropped 0.4% as supermarket shopping decreased.
- In volume terms, retail sales increased 1.5% in June, a significant measure since retail purchases account for about 40% of consumer spending in Canada.
- Andrew Grantham, senior economist at CIBC Capital Markets, said "gradual improvement in consumer spending" should continue into next year, supported by expanded household benefits and an improving labor market.
12 Articles
12 Articles
Canada retail sales rise 0.6% in June, StatsCan says
By Promit Mukherjee OTTAWA, August 21 (Reuters) - Canada's retail sales rose 0.6% in June, beating an average analyst expectation of 0.4%, as sales jumped at clothing and general merchandise stores, data showed on Friday. Retail sales, which include p...
Canada Retail Sales Rise 0.6% as Core Spending Strengthens, but July Estimate Warns of Pullback - ActionForex
Canada retail sales rose 0.6% m/m in June to CAD 74.3bn, beating expectations for 0.4% and following a revised 1.1% gain in May. Sales increased in seven of nine subsectors. More importantly, core retail sales excluding gasoline and motor vehicles rose 1.2%, extending their advance for a second month. In volume terms, total retail sales […] The post Canada Retail Sales Rise 0.6% as Core Spending Strengthens, but July Estimate Warns of Pullback a…
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