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Winnipeg Free Press - ONLINE EDITION
Retail sales edge up in July
WINNIPEG — Retail sales strengthened across the country in July, and Manitoba went along for the ride.
Statistics Canada figures released today show Manitoba retailers rang up $1.39 billion worth of sales for the month. That was an increase of 0.7 per cent from June’s $1.38 billion, and was a 2.2 per cent improvement from a year earlier, when $1.36 billion worth of sales were recorded.
The stronger showing was part of a nationwide trend that saw sales increase in all 10 provinces in July. That boosted Canada’s sales by an unexpected 0.7 per cent to $39 billion from $38.7 billion in June.
Manitoba’s month-to-month gain was the third-smallest among the provinces (tied with British Columbia), while the July-over-July increase was the fourth-smallest among the nine provinces that posted better year-over-year numbers.
Economists had been anticipating a 0.2 per cent increase for Canada in July.
"A solid July report suggests that consumer spending growth picked up in the third quarter from the second quarter’s tepid pace," BMO Capital Markets economist Robert Kavcic wrote in a note to clients.
"Still, overall economic growth will be challenged to hit the Bank of Canada’s two per cent forecast for the third quarter."
— with files by Canadian Press
murray.mcneill@freepress.mb.ca
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