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- Canada’s retail sales climb less than forecast in June
Canada’s retail sales climb less than forecast in June
Statistics
Canada reported on Friday that the Canadian retail sales surged 23.7percent
m-o-m to CAD52.96 billion in June, following an unrevised 18.7 percent m-o-m jump
in May. That was the biggest monthly advance on record.
Economists had
forecast a 24.5 percent m-o-m climb for June.
According to
the report, sales increased in all 11 subsectors, with growth primarily led by
motor vehicle and parts dealers (+53.4 percent m-o-m), as well as clothing and
clothing accessories stores (+142.3 percent m-o-m).
Excluding motor
vehicle and parts dealers, retail sales rose 15.7 percent m-o-m in June
compared to an unrevised 10.6 percent m-o-m advance in May and economists’
forecast for a 15.0 percent m-o-m gain. Excluding motor vehicle and parts
dealers and gasoline stations, retail sales increased 15.7 percent m-o-m in June.
In y-o-y terms,
Canadian retail sales rose 3.8 percent in June, following an unrevised 18.4
percent tumble in May.
Over the second
quarter, retail sales were down 13.3 percent q-o-q.
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