Canada’s retail sales fell -0.8% mom to CAD 66.1B in May, worse than expectation of -0.5% mom. Sales were down in eight of nine subsectors, led by decreases at food and beverage retailers. Core retail sales—which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers—were down -1.4% mom in May.
Advance estimate indicates that sales decreased further by -0.3% mom in June.
