Retail sales in Canada jumped 18.7 percent over a month earlier in May 2020, rebounding from a downwardly revised record 25 percent slump in the previous month, but below market expectations of a 20 percent gain. It was the largest rise in retail trade since series began, as several businesses resumed operations following coronavirus lockdown restrictions. Sales increased mainly at motor vehicle & parts dealers (66.3%); general merchandise stores (20.4%); clothing & clothing accessories stores (92.6%); sporting goods, hobby, book and music (101.2%); and furniture & home furnishings (58.6%). Also, sales at the pump were up 17.1 percent, after dropping a record 35.4 percent in April. In contrast, sales at food & beverages stores fell 2 percent, following a record 23.2 percent increase in the prior month. Sales were up in every province in May. Year-year, retail trade declined 18.4 percent. Statistics Canada also provided a June's retail sales advance estimate of a 24.5% rise.
Retail Sales MoM in Canada averaged 0.31 percent from 1991 until 2020, reaching an all time high of 18.70 percent in May of 2020 and a record low of -25 percent in April of 2020. This page provides - Canada Retail Sales MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Retail Sales MoM - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Statistics Canada
Retail Sales MoM in Canada is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales MoM in Canada to stand at 0.70 in 12 months time. In the long-term, the Canada Retail Sales MoM is projected to trend around 0.40 percent in 2021 and 0.30 percent in 2022, according to our econometric models.