Canada's May retail sales grow by 1% on higher price of gasoline, other categories
Gasoline stations and fuel vendors posted the biggest gain as core sales rose 0.9% and Statistics Canada estimated June sales up 0.4%.
- On Thursday, Statistics Canada reported retail sales rose 1.0 per cent to $73.7 billion in May, largely driven by elevated gas prices at fuel stations.
- Higher prices at gasoline stations fueled the gain, reflecting elevated global energy costs stemming from the ongoing conflict in the Middle East.
- Excluding gasoline and vehicle dealers, core retail sales rose 0.9 per cent, the first gain in three months, with sales rising in every province except Nova Scotia.
- Retail sales volume rose 0.3 per cent for May, suggesting household consumption in Canada is not rapidly deteriorating despite economic headwinds.
- Statistics Canada's advance estimate suggests retail sales increased 0.4 per cent in June, though the agency cautioned the figure will be revised as more data becomes available.
16 Articles
16 Articles
Canadian retail sales up one per cent at $73.7 billion in May: StatCan
Canadian retail sales rose one per cent to $73.7 billion in May as higher gas prices helped boost sales at gasoline stations and fuel vendors, Statistics Canada said Thursday. The agency also said its early estimate suggested retail sales continued to climb in June with a gain of 0.4 per cent, thoug...
Retail, food, beverage sales reach June record amid recovery of auto market
Retail and food and beverage sales last month hit a record for June, benefiting from a recovery in the auto market, new store openings, more promotional campaigns and seasonal demand for cold beverages, data released yesterday by the Ministry of Economic Affairs showed. Retail sales increased 8 perc
Retail sales increased by 1% to $73.7 billion in May, with fuel stations and dealers recording the largest increase of the month, spurred by rising prices.
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