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- Canada’s retail sales down 0.1 percent in May
Canada’s retail sales down 0.1 percent in May
Statistics
Canada reported on Friday that the Canadian retail sales edged down 0.1 percent
m-o-m to CAD51.46 billion in May, following a revised 0.2 percent m-o-m gain in
April (originally a 0.1 percent m-o-m increase). That marked the first monthly decrease
in retail sales since January.
The result was
below economists’ forecast, suggesting a 0.3 percent m-o-m advance for May.
According to
the report, sales declined in 4 of 11 subsectors, representing 39 percent of
retail trade.
The May drop
was primarily attributable to lower sales at food and beverage stores (-2.0
percent m-o-m).
Excluding motor
vehicle and parts dealers, retail sales fell 0.3 percent m-o-m in May compared
to an unrevised 0.1 percent m-o-m gain in April and economists’ forecast of a
0.4 percent m-o-m rise.
In y-o-y terms,
Canadian retail sales jumped 1.0 percent in May, following an unrevised 3.7
percent jump in April. That was the smallest annual increase in retail trade
since January.
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