Canadian Retail Sales Fell 2.1% in May

Retail sales across Canada slumped 2.1% in May, as a number of stores in key regions remained closed due to a third wave of Covid-19.

According to Statistics Canada, retail sales declined to $53.8 billion in May, as sales slumped across 8 of the 11 subsectors. Core retail sales, which do not account for sales at gasoline and motor vehicle and parts dealers, also suffered a decrease in May, falling by 2.4%.

The most significant decrease in retail sales were concentrated across building material and garden equipment and supplies dealers, which suffered their second consecutive month of declines, falling by 11.3% in May. Similarly, motor vehicle and parts stores reported a 2.4% drop in sales.

Conversely, sales at gasoline stations jumped 0.9%, marking the fourth increase in five months. Gasoline prices also rose in May, amid supply chain disruptions at pipelines in the US and output cuts by major oil producing economies. As a result, in volume terms, sales at gasoline stations actually slightly declined 0.1%.

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

Is Gold’s Bull Market About to Hit Junior Stocks? | Ken Armstrong – Westhaven Gold

Surge Battery Metals: The Nevada North Lithium PEA

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

CIBC Reduces Cannabis Sales Forecast for 2020

One of Canada’s main banking subsidiaries, CIBC Capital Markets, has reduced its adult-use cannabis forecast...

Thursday, April 30, 2020, 03:02:00 PM

Mayor of Terry Fox’s Hometown Bashes Trudeau for New Passport Design

The design for Canada’s new high-tech passport was unveiled on Wednesday by Sean Fraser, Minister...

Thursday, May 11, 2023, 12:21:36 PM

Canadian Retail Sales Rebound to 100% of February’s Pre-Pandemic Levels

As restrictions continue to be lifted across Canada’s provinces and the economy enters a modest...

Thursday, July 23, 2020, 01:47:00 PM

Canadian Retail Sales Plummeted in April Amid Third Wave of Covid-19 Restrictions

Retail sales across Canada were sent plunging downwards at the beginning of the second quarter,...

Wednesday, June 23, 2021, 04:51:00 PM

Carney Won’t Repeal Pipeline Legislation Despite Tariff Pressures

Canadian Prime Minister Mark Carney rejected calls to repeal controversial legislation that critics say blocks...

Wednesday, April 2, 2025, 12:07:00 PM