Canadian retail sales on the rise

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According to Statistics Canada, retail sales in Canada have increased by 0.7 per cent in May. The data shows that sales were at $42 billion with rising sales of new cars and trucks, as well as several sectors that make up the retail trade. Sales of new cars rose 2.3 per cent in May after a 3.5 per cent rise in April.

Experts were expecting a 0.6 per cent gain of retail sales, and the results have surpassed their expectations. Excluding autos, retail sales increased by 0.1 per cent, which were expected to have a 0.3 per cent rise. Gasoline sales were also on the rise with a two per cent increase, as well as increases in sales of building material, garden equipment, furniture, sporting goods, convenience stores, and more.

Food and beverage stores saw a decline by 1.6 per cent, along with liquor stores down by 2.5 per cent. Health and personal care stores saw their first decline in four months with a 1.2 per cent drop. CJ

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