Statistics Canada released data just moments ago showing retail sales rose 1.5% in June to $70.2 billion, following a 1.1% decline in May. Expectations were for a 1.3% increase, driven by increases in food and beverage sales.
Core retail sales, excluding gas stations and motor vehicle and parts stores, rose 1.9% in June after a revised 0.3% decline in May, exceeding expectations.
The June sales increase was supported by a 2.3% increase in food and beverage stores, a 5.1% increase in clothing, accessories, and jewelry stores, and a 1.6% increase in general merchandise stores. Gas station sales rose 1.8% after three months of declines, while motor vehicle and parts stores rose 0.2% after a 3.4% decline in May.