Jeffrey Qián 錢 曄 // 778-238-2014 //

Retail Sales Rise Significantly

Retail sales in Canada climbed 7.3 per cent to $49 billion in June compared to the same month last year. The month-over-month increase was 0.1 per cent, marking the fourth consecutive month of gains. After removing the effects of price changes, retail sales were up 0.5 per cent by volume. This strong performance supports further upward movement in the Bank of Canada target interest rate as broadening strength in Canadian economy signals an expectation of rising inflation.

BC retail sales posted a phenomenal 12.4 per cent increase year-over-year in June to $7.2 billion. Compared to May, BC retail sales rose 1.9 per cent. This surge in consumer spending is being underpinned by above trend economic growth, rising employment and increased migration. 

No comments

Post Your Comment:

* indicates required fields.
Your Name: *
Please note, your email will not be shown publicly
Your Email (will not be published): *
Comment: *
Please type the text as it appears above:
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.