Canada Ventes au détail (mensuelles)

Retail sales in Canada are projected to have soared by 0.6% from the previous month in July of 2024, according to a flash estimate. This would erase the 0.3% drop that occurred in June, confirming the earlier flash estimate, which extended the 0.8% plunge in May, the highest contraction in 14 months. June’s decline took place despite a slight increase in retail volumes, largely due to the decline in gasoline prices and its impact in retail turnover. Gasoline turnover fell by 0.5%. Sales were also lower for motor vehicles and parts dealers (-2.1%) amid a sharp downturn in new car dealers (-2.9%). On the other hand, retail turnover was 0.4% higher when only measuring core subsectors of the Canadian economy, driven by increases for food and beverage retailers (1.2%), building material and garden equipment retailers (0.6%), and clothing and clothing accessories retailers (1%). From the previous year, retail sales were 0.2% higher in June.