Food and Beverage Retailers Drive Retail Sales Decrease of 0.8 Percent in May
Statistics Canada reports that retail sales decreased by 0.8 percent to $66.1 billion in May, primarily due to drops in sales at grocers and alcoholic beverage retailers.
The agency notes that sales dropped in eight of the nine subsectors it monitors, with the largest decline of 1.9 percent seen in food and beverage retailers.
Sales at building material and garden equipment and supplies dealers fell by 2.7 percent, while general merchandise retailers experienced a 1 percent decline.
Core retail sales, excluding gasoline stations, fuel vendors, and motor vehicle and parts dealers, fell by 1.4 percent in May.
Despite the overall decrease, vehicle sales saw an increase, with both new and used car dealers reporting gains.
In terms of volume, retail sales saw a decrease of 0.7 percent in May.
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Statistics Canada’s initial estimate points to a 0.3 percent decline in retail sales for June, but they have indicated that this figure is subject to revision.
