In April, retail sales in Canada rose by 0.3% to reach $70.1 billion, boosted primarily by the automotive sector. Sales at motor vehicle and parts dealers saw a significant increase of 1.9%, attributed in part to a consumer rush to purchase before potential tariff-induced price hikes. However, early estimates for May indicate a drop of 1.1% in retail sales, suggesting a possible economic slowdown. Overall, while certain sectors, such as sporting goods and furniture, saw growth, clothing sales experienced a downturn of 2.2%.
Canadian consumers continued to spend in April, but a decline in the May advance estimate for retail sales provides another indication that the economy is heading for a stall in [the second quarter].
Auto sales were once again the main driver of growth, with the near two per cent increase possibly reflecting some efforts by households to make purchases ahead of feared tariff-led price increases.
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