Canada Retail Sales Rise 0.7% in April, Pull Back in May
By Robb M. Stewart
OTTAWA--Canadian shoppers ramped up their spending in April, led by fuel purchases and buying of food and drinks.
Sales rose 0.7% from the previous month to a seasonally adjusted 66.80 billion Canadian dollars, the equivalent of about US$48.79 billion, Statistics Canada said Friday.
The increase was in line with the data agency's preliminary estimate and the consensus forecast of economists, and follows a downwardly revised 0.3% drop in March sales.
Compared with a year earlier, retail sales in April were 1.8% higher.
The agency said that early indications suggest that retail sales decreased 0.6% in May, though the figure was based on responses from 47.5% of the companies surveyed and will be revised.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
June 21, 2024 08:57 ET (12:57 GMT)
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