Canadian Retail Sales - May 23, 2019
May 23, 2019
Canadian retail sales increased for a second consecutive month in March, rising 1.1 per cent to $51.3 billion. Retail sales were higher in 7 out of 11 subsectors with higher sales at gas stations and building and gardening material stores as the main contributors growth.
In BC, retail sales were up 0.7 per cent on a monthly basis and just 1.2 per cent year-over-year. Despite a strong labour market, BC consumers have been hesitant to spend over the past year. Interest rate sensitive and housing related sectors continue to be a drag on the retail sector. Sales of motor vehicles and parts were down 6 per cent year-over-year and sales of furniture and home furnishings fell 3.7 per cent.
Copyright British Columbia Real Estate Association. Reprinted with permission.
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