Canada’s Retail Trade Shows Signs of Rebound After Sales Plummeted by More Than 33% Since February

It appears that Canada’s retail trade has moderately rebounded in May, following the lifting of many government-mandated restrictions which were imposed back in March.

The month of February saw the highest amount of retail trade sales in a span of two years; however, the coronavirus pandemic quickly shifted the momentum. In March, when governments began imposing coronavirus restrictions across the country and urged Canadians to stay at home in order to mitigate the spread of the virus, retail trade suddenly fell by more than 10%, resulting in a loss of nearly $5 billion since the previous month.

April was much the same, with losses continuing to mount. Retail trade sales fell by nearly 25% since the prior month, and declined by a staggering 33% since February. However, as restrictions began lifting in May and many consumers ventured out of their homes, Canada’s retail trade sector took a breath of relief. The month of May saw an increase of $6.57 billion dollars in retail trade sales over the prior month, but were still 20% below February’s pre-pandemic levels.

Information for this briefing was found via Statistics Canada. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Canadian Retail Sales Increased 1.1% in September, But October Momentum Showing Signs of Slowdown

Canadian retail trade showed better than expected results for the month of September, with sales...

Friday, November 20, 2020, 04:01:00 PM

Canadian Retail Sales Increase 0.4% In October

Canadian retail sales recorded strong growth for the month of October, rising by 0.4% on...

Friday, December 18, 2020, 02:34:00 PM

US Retail Sales Disappoint With 0.3% Growth As Household Incomes Continue to Decline

As new coronavirus infections continue to spiral out of control across the US, it appears...

Tuesday, November 17, 2020, 02:17:00 PM

Canadian Retail Cannabis Sales Continue to Climb

Canadian retail sales of cannabis continue to climb on a month over month basis across...

Wednesday, October 23, 2019, 10:29:18 AM

Canadian Retail Sales Increased 1.3% In November Following Surge in Online Shopping

For the seventh consecutive month, Canadian retail sales posted the fastest increase since September, rising...

Monday, January 25, 2021, 10:45:00 AM