Steve Flynn  RE/MAX Crest Realty- Burnaby 

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Canadian Retail Sales (May 2022) - July 23, 2022


Canadian seasonally-adjusted retail sales increased 2.2 per cent in May, hitting $62.2 billion. Sales grew in 8 of 11 subsectors, but were led by higher sales at gasoline stations and motor vehicle and parts dealers (+9.2 and +3.3 per cent respectively). Core retail sales, which strips out gasoline and motor vehicle and parts dealers, increased 0.6 per cent in May. In volume terms, sales were up 0.4 per cent. 

In BC, seasonally-adjusted sales rose 1.3 per cent in May. Compared to the same month last year, retail sales were up 3 per cent in the province. In the Greater Vancouver region, sales rose 0.8 per cent month-over-month and were up 4.5 per cent year-over-year. 

In May, Canadian e-commerce sales rose 6.5 per cent to 3.5 billion, corresponding to 4.9 per cent of retail sales. This percentage remains elevated relative to pre-pandemic levels, but is lower than during core months of the pandemic in 2020 and 2021. 



Copyright British Columbia Real Estate Association. Reprinted with permission.


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