Rising gasoline and auto sales boosted retail spending in June, Statistics Canada says

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OTTAWA – Retail sales in Canada rose 1.1% to $63.1 billion in June, boosted by higher sales at gas stations and motor vehicle and parts dealerships, Statistics reported Friday. Canada.

However, the agency said its preliminary estimate for July suggests retail sales for that month fell 2.0%, although it warned the figure would be revised.

Bank of Montreal economist Shelly Kaushik said retail spending had a surprisingly strong June, although much of the overall strength was due to higher prices as volumes were down. slow.

Retail sales in volume rose 0.2% in June.

“Still, it looks like retail sales will contribute to growth in the second quarter. However, the flash estimate for July points to a weaker start to the quarter,” Kaushik wrote in a report.

In June, rising prices helped push gas station sales up 3.9% for the month, even as gas station sales in volume fell 1.3%.

Meanwhile, sales at motor vehicle and parts dealers rose 1.8% in June, boosted by a 2.9% rise at new car dealers. Sales at used car dealerships rose 1.7%.

Core retail sales – which exclude gasoline stations and motor vehicle and parts dealerships – rose 0.2%.

General merchandise stores rose 1.1% in June, while clothing and clothing accessories stores rose 1.8%, helped by a 2.1% rise in clothing stores and a 2.4% increase in jewelry, luggage and leather goods stores.

Sales at food and beverage stores fell 1.1% in June, with sales at supermarkets and other grocery stores falling 0.8% and beer, wine and liquor stores falling 2.9% .

Feature Image: Three Tesla electric vehicles drive past a sign showing the price of a liter of regular gasoline after it hit a new high of $2.28 in Vancouver on Saturday, May 14, 2022. THE CANADIAN PRESS/Darryl Dyck

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