Retail sales record seventh increase in eight months in May
July 24, 2008 By The Canadian Press
July 24, 2008 – Retail sales rose 0.4 per cent in May to $35.8 billion, the seventh increase in eight months.
Retail sales rose 0.4 per cent in May to $35.8 billion, the seventh increase in eight months.
The advance was primarily attributable to increased sales at gasoline
stations, largely owing to an 8.8 per cent hike in gasoline prices in
May over April.
Statistics Canada reports retail sales in constant dollars rose by
only 0.1 per cent if the effects of price changes are removed.
Retail sales in current dollars were up in five of eight sectors in
May, with the automotive sector and in building and outdoor
home-supplies stores leading the way.
Sales in the automotive sector posted a strong 1.1 per cent increase in May, the sixth rise in eight months.
Sales were up in all three components of the sector, with gasoline stations posting the largest sales increase, at 2.4 per cent.
Sales in the building and outdoor home-supplies stores sector rose 0.7 per cent, the second increase in eight months.
Among the three sectors where sales did not increase, the most
pronounced drop occurred in clothing and accessories stores, down 0.7
Sales in current dollars increased in eight provinces in May, with
Saskatchewan recording the most substantial rise, at 1.8 per cent.
Retail sales fell 1.2 per cent in Newfoundland and Labrador, the third decline since peaking in January 2008.
The Canadian Press
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