Canadian retail sales dropped by 0.8% in May from April, totaling C$66.13 billion ($48.23 billion), primarily due to lower sales at food and beverage retailers, according to Statistics Canada on Friday. The agency’s flash estimate suggests a further decline of 0.3% in June. In May, sales decreased in eight out of nine subsectors, accounting for 73.1% of retail trade, with retail sales down 0.7% in volume terms.
Canada’s retail sales dropped by 0.8% in May due to lower grocery sales and are expected to decline by 0.3% in June.
- July 20, 2024
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