Canada retail sales rose 18.7% mom to CAD 41.8B in May, below expectation of 21.0% mom rise. It’s also insufficient to recover April’s -26.4% mom decline. Additionally, sales were also -20% below February’s pre-pandemic level. Sales were up in 10 out of 11 sub sectors, Motor vehicle and parts dealers, general merchandise stores, as well as clothing and clothing accessories stores were the main contributors to the rebound.
Statistics Canada also said that in advance estimate of June, retail sales would increase 24.5% mom. But owing to its preliminary nature, the figure should be expected to be revised.
Also from Canada, new housing price index rose 0.1% mom in June, below expectation of 0.2% mom.
