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Canada retail sales rose 1.0% month-on-month in May
Statistics Canada said retail sales rose 1.0% m/m, while retail trade in volume was up 0.3% m/m, pointing to a rebound in underlying demand.
Canada retail sales increased in May as activity rebounded, according to an advance estimate from Statistics Canada, cited by Action Forex.
Retail sales were up 1.0% month-on-month in May, while retail trade in volume rose 0.3% m/m, Action Forex said, suggesting an underlying demand improvement rather than purely price-driven gains.
Action Forex also noted that motor vehicle and parts dealers posted a 0.7% m/m increase, supported by higher sales at new car dealers, which rose 0.5% m/m.
The outlet said gasoline station receipts also rose in May, pointing to stronger consumer spending across key categories.
Latest closeGasoline (RBOB) $2.892 ▼7.8%