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Big retail sales in May across sectors
26 Jul '07
2 min read
Retail sales advanced in almost all sectors in May, marking the largest monthly sales increase in almost a decade. Total retail sales rose 2.8% to an estimated $35.0 billion in May. Gains in seven of eight retail sectors boosted sales, making May the fourth monthly increase in a row for Canadian retailers.
The last time sales increased more than 2.8% was December 1997, when sales advanced 3.7%. When sales of new, used and recreational vehicles and parts dealers are excluded, retail sales jumped 2.3%, more than offsetting April's 0.3% decline. The Quebec public service pay equity settlement was a key factor in May's retail sales.
Sales in this province surged 4.9% in May, the strongest monthly sales growth since February 1998. Excluding Quebec, retail sales rose 2.2%.
Sales advanced in all retail sectors in May except in the furniture, home furnishings and electronics stores sector. Retailers in this sector saw sales decline 0.8%, after six consecutive monthly gains. Sales in clothing and accessories stores surged 4.6% after falling 3.1% in April.
Sales at miscellaneous retailers rose 3.7% in May following a 1.8% decline in the April. General merchandise stores' sales were up 3.2%, offsetting the 1.2% decline in April. Prior to April's decline, sales in both of these sectors had risen for four consecutive months.
The 2.5% sales increase at pharmacies and personal care stores in May was the strongest monthly growth for this sector since January 1999, and more than offset the 1.3% decline in April. Sales in the food and beverage stores sector were also up (+0.2%). Food and beverage stores sales have increased in the past four months, although at a diminishing rate.
The last time sales increased more than 2.8% was December 1997, when sales advanced 3.7%. When sales of new, used and recreational vehicles and parts dealers are excluded, retail sales jumped 2.3%, more than offsetting April's 0.3% decline. The Quebec public service pay equity settlement was a key factor in May's retail sales.
Sales in this province surged 4.9% in May, the strongest monthly sales growth since February 1998. Excluding Quebec, retail sales rose 2.2%.
Sales advanced in all retail sectors in May except in the furniture, home furnishings and electronics stores sector. Retailers in this sector saw sales decline 0.8%, after six consecutive monthly gains. Sales in clothing and accessories stores surged 4.6% after falling 3.1% in April.
Sales at miscellaneous retailers rose 3.7% in May following a 1.8% decline in the April. General merchandise stores' sales were up 3.2%, offsetting the 1.2% decline in April. Prior to April's decline, sales in both of these sectors had risen for four consecutive months.
The 2.5% sales increase at pharmacies and personal care stores in May was the strongest monthly growth for this sector since January 1999, and more than offset the 1.3% decline in April. Sales in the food and beverage stores sector were also up (+0.2%). Food and beverage stores sales have increased in the past four months, although at a diminishing rate.
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