Retail sales in Canada rose 0.6 percent over a month earlier in July 2020, following a downwardly revised record 22.7 percent gain in the previous month but below market expectations of a 1 percent increase. Sales were up in 6 of 11 subsectors, in particular at the motor vehicle & parts dealers subsector (+3.3%) on continued pent-up demand for motor vehicles following pandemic-driven dealership closures in the spring; gasoline stations (6.1%) on the back of higher gasoline prices, the continued reopening of the economy, and more Canadians travelling and buying locally; and clothing & clothing accessories stores (11.2%). Meanwhile, sales fell at food & beverage stores (-2.1%); general merchandise (-0.4%) and sporting goods, hobby and music (-8.8%). Overall, the recovery in retail sales has been V-shaped, with sales in June and July, rebounding and surpassing February's pre-pandemic levels. Statistics Canada also provided an early estimate of August's retail sales of a 1.1% gain.
Retail Sales MoM in Canada averaged 0.39 percent from 1991 until 2020, reaching an all time high of 22.70 percent in June of 2020 and a record low of -24.80 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 September 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.