Canada May retail sales data
- Prior was +1.1% (revised to +1.3%)
- Ex autos +0.1% vs +0.4% expected
- Prior ex autos +1.7% (revised to +1.8%)
- Ex autos and gas -0.1%
- In volume terms, sales -0.2%
- Seven of 11 subsectors higher
This was a small miss that was mitigated by upward revisions to the prior readings. Higher sales at gasoline stations, along with new cars and food and beverage stores drove the increase.
The chart above that's adjusted for inflation shows how sales have flatlined along with housing prices since early 2017.
