Particle.news
Download on the App Store
5 ARTICLES
·
last mo.

Canadian Retail Sales Rise 0.3% in April; May Slump Forecast

Advance estimates forecast a 1.1% drop in May sales as tariff-driven front-loading loses momentum.

A Canada Goose store in the CF Toronto Eaton Centre shopping mall in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio/ File Photo
Statistics Canada said retail sales were up in April, boosted by increases at new and used car dealers.
Cars are lined up at a Hyundai dealership in Quebec City. Statistics Canada says retail sales rose 0.3 per cent to $70.1 billion in April, helped by gains in sales at new and used car dealerships.

Overview

  • Total retail sales reached C$70.11 billion in April, growing 0.3% after a 0.8% increase in March.
  • Motor vehicle and parts dealers led gains with a 1.9% jump driven by stronger new and used car purchases.
  • Six of nine subsectors posted gains in April, including a 1.0% rise at sporting goods outlets, a 0.8% uptick at furniture and electronics stores, and a 0.1% increase in core sales excluding autos and fuel vendors.
  • Gasoline stations and fuel vendors saw the steepest decline at 2.7%, while clothing and accessory retailers fell 2.2%.
  • Advance May estimates point to a 1.1% sales contraction that economists warn could stall second-quarter economic growth.