Canadian Retail Sales - June 22, 2017
Canadian retail sales rose 0.8 per cent on a monthly basis in April and were 7 per cent higher year-over-year. Sales were higher in 9 of 11 retail sub-sectors. With today's strong retail sales data, we are tracking second quarter Canadian real GDP growth at 2.4 per cent.
In BC, the economy continues to thrive with retail sales rising 0.3 per cent on a monthly basis and and 7.1 per cent year-over-year. Given today's retail sales data along with strength in employment, manufacturing, housing and trade data, growth in BC real GDP is tracking 3.8 per cent through the first 5 months of the year.
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