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- Canada’s retail sales unchanged in June
Canada’s retail sales unchanged in June
Statistics
Canada reported on Friday that the Canadian retail sales remained unchanged
m-o-m at CAD51.46 billion in June, following a revised 0.2 percent m-o-m drop
in May (originally a 0.1 percent m-o-m decrease).
The result was above
economists’ forecast, suggesting a 0.1 percent m-o-m drop for June.
According to
the report, sales declined in 4 of 11 subsectors, representing 48 percent of
retail trade.
The June flat
m-o-m performance came as stronger sales across most subsectors were offset by
lower sales at motor vehicle and parts dealers (-2.5 percent m-o-m) and
gasoline stations (-3.4 percent m-o-m). Excluding motor vehicle and parts
dealers, retail sales rose 0.9 percent m-o-m in June compared to a revised 0.4
percent m-o-m decline in May (originally a drop of 0.3 percent m-o-m) and
economists’ forecast of flat m-o-m performance. Excluding motor vehicle and parts dealers and gasoline
stations, retail sales surged 1.7 percent m-o-m in June.
In y-o-y terms,
Canadian retail sales jumped 1.0 percent in June, the same pace as in May.
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