Wednesday, July 23, 2014

BCREA ECONOMICS NOW Canadian Retail Sales - July 23, 2014

Canadian retail sales rose 0.7 per cent in May with sales higher in 7 of 11 retail sub-sectors.  In inflation-adjusted terms, retail sales rose 0.4 per cent.  Given today's data, second quarter Canadian real GDP growth is tracking at 2.2 per cent on an annualized basis.

Retail sales in BC edged lower by 0.1 per cent following two months of strong growth. However, on a year-over-year basis, retail sales were 6.4 per cent higher than May 2013.  Through the first five months of the year, retail sales in BC are up a robust 5.3 per cent.