BCREA ECONOMICS NOW: Canadian Retail Sales - May 22, 2013
BCREA ECONOMICS NOW
Canadian Retail Sales - May 22, 2013
Canadian retail sales were flat in March. Higher
sales were reported in 6 of the 11 retail sub-sectors. Inflation adjusted sales
rose 0.7 per cent. First quarter retail sales increased just 1 per cent over
the first quarter of 2012.
Retail sales in BC continued to slump in March, rising just 0.9 per cent on a
monthly basis and declining 0.1 per cent year-over year. For the first quarter,
BC retail sales are 0.4 per cent lower than the first quarter of 2012.
Slower employment growth and high debt burdens are likely taking a toll on
household spending this year. However, an expected acceleration in economic
growth in the second half of the year should spur faster job growth and higher
consumer spending.
For more information, please contact:
Cameron Muir |
Brendon Ogmundson |
Chief Economist |
Economist |
Direct: 604.742.2780 |
Direct: 604.742.2796 |
Mobile: 778.229.1884 |
Mobile: 604.505.6793 |
Email: cmuir@bcrea.bc.ca |
Email: bogmundson@bcrea.bc.ca |
BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).
Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.