Steve Flynn  RE/MAX Crest Realty- Burnaby 

Cell: 604.785.3977 |

Posts By Date

Canadian Retail Sales - July 20, 2019

Canadian retail sales declined in May by 0.1% to $51.5 billion, following a 0.2% gain in the previous month. This marks the third consecutive quarter of no growth. Retail sales were down in 4 of 11 subsectors in May, represening 39% of retail sales. The main contributor to the decline was sales at food and beverage stores. Retail sales were down in eight provinces with monthly gains only reported in Quebec (0.9%) and Ontario (0.5%).

In B.C., retail sales declined 0.2% from the previous month to $7.2 billion. Meanwhile, a gain of 0.9% was reported in Vancouver. Provincial sales were down in health and personal care, electronics and appliance stores, and at funiture stores. In contrast, sales were up at gas stations. On a year-over-year basis, B.C. retail sales were flat in May.

Although retail sales were down in May, we can expect modest growth going forward, supported by a solid labour market, wage gains and reduced borrowing costs.

Copyright British Columbia Real Estate Association. Reprinted with permission.

No comments

Post Your Comment:

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.