Canada: Following a 2.2% increase in May, retail sales edged down 0.2% in June to $50.7 billion

"Following a 2.2% increase in May, retail sales edged down 0.2% in June to $50.7 billion. Sales were down in 6 of 11 subsectors, representing 52% of total retail trade," Statistics Canada reported on Wednesday.

Key takeaways from the official press release

• After removing the effects of price changes, retail sales decreased 0.3%.
• On a quarterly basis, retail sales were up 1.0% in the second quarter following a 0.5% decrease in the first quarter. In volume terms, retail sales increased 0.9% in the second quarter.
• Lower sales at gasoline stations and motor vehicle and parts dealers more than offset higher sales at food and beverage stores and building material and garden equipment and supplies dealers.
  • Excluding the first two subsectors, retail sales were up 0.3%.