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  • Canada’s retail sales fall 0.3 per cent in June, matching expectations
Ekonomické zprávy
23.08.2024

Canada’s retail sales fall 0.3 per cent in June, matching expectations

The data, published by Statistics Canada on Friday, revealed that Canadian retail sales fell 0.3 per cent m-o-m to CAD 65.73 billion in June, following an unrevised 0.8 per cent m-o-m decline in May.

Economists had expected a decrease of 0.3 per cent m-o-m for June.

According to the report, 4 of 9 subsectors demonstrated declines in retail sales in June, led by motor vehicle and parts dealers (-2.1 per cent m-o-m).

Excluding auto, retail sales increased 0.3 per cent m-o-m in June after an upwardly revised 1.2 per cent m-o-m plunge (from -1.3 per cent m-o-m) in the previous month, being much better than economists’ estimate of a 0.2 per cent drop.

In y-o-y terms, Canadian retail sales rose 0.2 per cent in June, following an unrevised 1.0 per cent surge in the previous month. This represented the weakest annual gain in retail sales since a fall in January (-0.1 per cent).

Statistics Canada also said its preliminary estimates suggest that Canada’s retail sales jumped 0.6 per cent m-o-m in July.

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