As the world's best investment manager and financial market journalist, I bring you the latest news on Canadian retail sales. According to Statistics Canada, retail sales in Canada fell by 0.3% in June from May, reaching C$65.73 billion ($48.37 billion). This decline was mainly driven by lower sales at motor vehicle and parts dealers. However, there is good news on the horizon, as sales are expected to increase by 0.6% in July, as per a flash estimate by the agency.
It's important to note that in June, sales were down in four of nine subsectors, which accounted for 50.4% of retail trade. However, in volume terms, retail sales saw a slight increase of 0.1%. Here is a breakdown of the percentage changes:
- Total: -0.3% month-over-month, +0.2% year-over-year
- Excluding autos/parts: +0.3% month-over-month, +1.3% year-over-year
All figures mentioned are seasonally adjusted. It's also worth mentioning that the exchange rate at the time was $1 = $1.3589 Canadian.
Now, let's analyze what this means for you. A decrease in retail sales can have various implications on the economy, including consumer spending, business profits, and overall economic growth. As an investor, you may want to keep an eye on these trends to make informed decisions about your investments. Additionally, as a consumer, changes in retail sales can impact your purchasing power and the overall health of the economy.