Retail sales in Canada likely rose by 0.4% month-over-month in August of 2022, preliminary estimates showed. Considering July, retail sales fell by 2.5% from a month earlier, above preliminary estimates of a 2% decline and compared to the downwardly revised 1% increase in June. It was the first decrease in retail turnover since December 2021 and the sharpest since April 2021, as sales contracted for 9 of the 11 subsectors. Lower fuel prices and concerns of a slowing economy led to a 14.2% plunge in sales at gasoline stations, halting six consecutive months of sharp growth in the sector. Sales also fell in clothing and accessories stores (-3.3%), and electronics and appliances stores (-2.8%). On an annual basis, retail trade rose by 8% in July, easing from the upwardly revised 11.1% in the prior month. source: Statistics Canada
Retail Sales MoM in Canada averaged 0.40 percent from 1991 until 2022, reaching an all time high of 24 percent in May of 2020 and a record low of -23.60 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 2022.
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. In the long-term, the Canada Retail Sales MoM is projected to trend around 0.50 percent in 2023, according to our econometric models.