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- Canada’s retail sales rise less than expected in June
Canada’s retail sales rise less than expected in June
Statistics
Canada announced on Friday that the Canadian retail sales increased 4.2 percent
m-o-m to CAD56.16 billion in June, following an unrevised 2.1 percent m-o-m drop
in May.
This was the first gain in retail sales in the last three months.
Economists
had forecast a 4.4 percent m-o-m decrease for June.
According
to the report, sales went up in 8 of 11 subsectors in June, accounting for 69.5
percent of total retail sales, led by lower sales at clothing and clothing
accessories stores (+49.1 percent m-o-m).
Core retail sales, which excludes gasoline stations and motor vehicle and parts dealers, rose 4.6 percent m-o-m in June after dropping 2.4 percent m-o-m in the previous month.
In
y-o-y terms, Canadian retail sales grew 6.2 percent in June, following an unrevised
24.6 percent jump in May.
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