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- Canada: Retail sales edged down. USD/CAD up around 50 pips on the news
Canada: Retail sales edged down. USD/CAD up around 50 pips on the news
Retail sales edged down 0.1% to $44.1 billion in June. Weaker sales at food and beverage stores and general merchandise stores offset higher sales at motor vehicle and parts dealers.
Sales were down in 7 of 11 subsectors, representing 54% of retail trade.
After removing the effects of price changes, retail sales in volume terms declined 0.3% in June.
Weaker sales at food and beverage stores and general merchandise stores
Food and beverage stores (-1.5%) recorded the largest decrease in dollar terms among subsectors in June. After advancing 6.4% in May, sales at beer, wine and liquor stores were down 4.7%, the largest monthly drop since June 2013. Receipts at supermarkets and other grocery stores fell 0.9% in June. Following three months of declines, sales at specialty food stores posted a 1.1% gain. Sales at convenience stores were up 0.3%.
General merchandise stores recorded a 1.5% sales decrease in June, down for the second month in a row.
Sales at building material and garden equipment and supplies dealers (-1.9%) fell for the third time in four months.
Clothing and clothing accessories stores posted a 1.7% sales decline in June. Sales at clothing stores (-1.7%) and shoe stores (-3.6%) were down, following gains in May. Jewellery, luggage and leather goods stores recorded a 1.1% sales increase.
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