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Retail sales down 0.8% in May led by decreases at food and beverage retailers

Core retail sales fell 1.4% in May
7/19/2024
grocery cart in a store blurred shelves
Statistics Canada says its advance estimate of retail sales points to a decline of 0.3% in June.

Statistics Canada says retail sales fell 0.8% to $66.1 billion in May, weighed down by decreases at grocers and alcoholic beverage retailers.

The agency says sales were down in eight of the nine subsectors it tracks led by the 1.9% decline in sales at food and beverage retailers.

Sales at building material and garden equipment and supplies dealers fell 2.7% and sales at general merchandise retailers declined one per cent.

Core retail sales—which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers—fell 1.4% in May.

Vehicle sales were the lone area with higher sales, with gains at both new and used car dealers.

In volume terms, retail sales decreased 0.7%.

Statistics Canada says its advance estimate of retail sales points to a decline of 0.3% in June, but cautioned the figure would be revised.

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