Canadian Retail Sales - September 23, 2015

In a further sign that the Canadian economy is recovering, Canadian retail sales rose 0.5 per cent in July, the third consecutive monthly increase. On a year-over-year basis, sales were up 1.8 per cent. Retail sales were higher in 6 of 11 retail sub-sectors with sales of motor vehicles and clothing leading the way.  In BC, retail sales dipped 0.4 per cent on a monthly basis but were up 5.7 per cent compared to July 2014. 

Consumer spending continues to be the main driver of economic growth in Canada, though weakness in the loonie is helping export growth. Canadian real GDP is currently tracking at between 2 and 2.5 per cent in the third quarter which would mean an end to the "technical" recession experienced over the first half of the year. 

For more information, please contact: 

Cameron Muir

Brendon Ogmundson

Chief 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

The British Columbia Real Estate Association (BCREA) is the professional association for more than 18,500 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.

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. 

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