Canada retail sales rose by 2.1% to CA$57.2 billion in August due to increases in both prices and volume of goods sold, according to data released by Statistics Canada on Friday, a promising sign for the country's economic recovery. This increase was observed across all provinces in the first full month after provinces lifted restrictions designed to ... READ MORE >
retail sales
Retail sales defied expectations, continuing to rise in September
Retail sales defied expectations in September, rising in back-to-back months and highlighting the resilience in consumer spending amid supply shortages and the surge of the delta variant. Such strong sales numbers helped to offset some of the impact from rising prices in the Consumer Price Index for September released earlier this week. We continued to ... READ MORE >
Chart of the day: Canada’s retail sales cool amid bumpy recovery
Continuing what has been a volatile year for consumers, Canada’s retail sales decreased by 0.6% in July compared to June, according to data released on Thursday by Statistics Canada. The decline is just the latest swing in what has been an ever-changing consumer landscape amid uncertainty concerning the delta variant. But overall, retail sales this year ... READ MORE >
As the delta variant spread, worried consumers went online to do their shopping
The strong retail sales for August were not only a welcome surprise for retailers after months of decline, but they also showed the enduring impact of the pandemic as consumers relied less on human contact and increasingly shopped at home. Non-store spending—which includes spending at online retailers—led the overall 0.7% increase in August retail ... READ MORE >
Chart of the day: Strong back-to-school retail sales may signal positive holiday season
In what retailers hope is a preview of the holiday shopping season, retail sales from the critical back-to-school month of August increased by 0.7% on the month, according to data released by the U.S. Census Bureau on Thursday. When autos are excluded, that gain was a robust 1.8%. The August figure easily beat the Bloomberg consensus forecast of a 0.8% ... READ MORE >
CHART OF THE DAY: Retail sales dip reflects shift in spending habits
A decline in retail spending in July may signal a shift in spending habits as consumers straddle a strengthening economy and virus-related concerns. Retail sales declined 1.1% in July compared to June, with the biggest decreases coming from motor vehicle and parts dealers, as well as non-store retailers (a proxy for e-commerce), which declined 3.9% and ... READ MORE >
June retail sales remain robust as economy runs hot
Retail sales increased by 0.6% in June, reflecting the broader narrative that underscores the American economy: Strong fundamentals around increasing employment, rising wages and savings will support a robust rebound as growth posts a cyclical peak in the second quarter. Overall growth will continue to support an expansion in the economy through 2023, ... READ MORE >
CHART OF THE DAY: Retail sales cool as stimulus boost wears off
After two months of growth fueled in part by stimulus payments, retail sales cooled off in May, falling 1.3% and missing analyst estimates compiled by Bloomberg of a 0.8% gain, according to Commerce Department data released Tuesday. But the drop in sales is likely more noise than signal as the economy ramps up. The three-month annualized pace of retail ... READ MORE >
CHART OF THE DAY: In retail sales data, consumers are ready to get out of the house
The strong retail sales data released on Thursday showed just how much pent-up demand exists among consumers as stimulus checks burn a hole their pockets and vaccinations allow for the economy to open up. People, it is clear, are ready to get out of the house. Among the strong categories in the March data were spending on eating and drinking, which ... READ MORE >
Robust rebound in March retail sales
The combined impact of a weather-related resumption of household spending and $680 billion in fiscal aid checks working their way through the economy stimulated a robust 9.8% rebound in top-line March retail sales. The control group, which feeds into the calculation of U.S. gross domestic product, advanced 6.9% and is up 27.5% on a three-month average ... READ MORE >