Canada retail sales for June 2020
Canada retail sales for June 2020:
- retail sales 23.7% vs. 24.5% estimate. That is up from the 18.7% preliminary gain seen in May which was revised to 21.2%
- Ex autos showed a 15.7% increase vs. 14.9% estimate. That is up from 10.6% in May which was revised higher to 11.8%
- retail sales in June were 1.3% higher than February levels as more regions moved to reopen their economies
- growth was primary led by motor vehicles and part dealers at +53.4%
- gasoline sales were up 26.3%
- health and personal care stores were up 11.7%
- general merchandise stores were up 8.6%
- electronic and point stores rose 4.4%
- food and beverage rose 1.5%
- clothing retail posted a 142.3% gain as stores reopened
- furniture and home furnishings rose to 70.9%
- building materials and garden equipment rose 13%
- sporting goods, hobbies, book and music stores increase by 64.9%
- retail sales volume terms were up 22.9%
- proximally 9% of retailers were closed during June
- Given the rapidly evolving economic situation statistics Canada is providing a advanced estimate of July sales of 0.7%.
The day that is somewhat old going back to June and certainly reflects the reopening of the economy in a big way. The preliminary estimate for July showing a 0.7% gain may start to smooth out the data going forward (at least for the time being).
