• Canada’s retail sales up 0.1 percent in April

Market news

21 June 2019

Canada’s retail sales up 0.1 percent in April

Statistics Canada reported on Wednesday that the Canadian retail sales edged up 0.1 percent m-o-m to CAD51.49 billion in April, following a revised 1.3 percent m-o-m climb in March (originally a 1.1 percent m-o-m increase). That was the smallest increase in retail trade since January’s drop of 0.3 percent m-o-m.

The result was below economists’ forecast, suggesting a 0.2 percent m-o-m advance for April.

According to the report, sales rose in 7 of 11 subsectors, representing 74 percent of retail trade.

The April advance was primarily attributable to higher sales at gasoline stations (+1.2 percent m-o-m) and food and beverage stores (+0.4 percent m-o-m).

Excluding motor vehicle and parts dealers, retail sales inched up 0.1 percent m-o-m in April compared to an upwardly revised 1.8 percent m-o-m gain in March (originally a gain of 1.7 percent m-o-m) and economists’ forecast of a 0.3 percent m-o-m rise.

In y-o-y terms, Canadian retail sales jumped 3.7 percent in April, following an unrevised 2.6 percent advance in March.

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