- Analytics
- News and Tools
- Market News
- Canada’s retail sales drop less than expected in May
Canada’s retail sales drop less than expected in May
Statistics
Canada announced on Friday that the Canadian retail sales decreased 2.1 percent
m-o-m to CAD53.78 billion in May, following an unrevised 5.7 percent m-o-m plunge
in April.
Economists
had forecast a 3.0 percent m-o-m decrease for May.
According
to the report, sales fell in 8 of 11 subsectors in May, accounting for 65.6
percent of total retail sales, led by lower sales at building material and
garden equipment and supplies dealers (-11.3 percent m-o-m), clothing and
clothing accessories stores (-11.2 percent m-o-m), furniture and home
furnishings stores (-8.7 percent m-o-m) and motor vehicle and parts dealers
(-2.4 percent m-o-m). Meanwhile, sales at electronics and appliance stores
(+1.5 percent m-o-m), gasoline stations (+0.9 percent m-o-m) and food and
beverage stores (+0.8 percent m-o-m) recorded gains.
Core retail sales, which excludes gasoline stations and motor vehicle and parts dealers, fell 2.4 percent m-o-m in May after plunging 7.6 percent m-o-m in the previos month.
In y-o-y terms, Canadian retail sales climbed 24.6
percent in May, following an unrevised 56.7 percent surge in April.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
