Tuesday, September 28, 2004

Retail sales hit record in July

RETAIL sales surged for a third consecutive month in July, reaching a record $28.9 billion.

July's increase was the sixth monthly sales gain so far this year, following a period of successive declines in the last four months of 2003. Previously, retail sales had generally been rising since the fall of 2001.

Overall, retail sales growth in June and July remained unaffected by price changes.

Sales bounce back in several sectors

Consumers returned shopping in several retail sectors in July, pushing sales up strongly in furniture, home furnishings and electronics stores, general merchandise stores, building and outdoor home supplies stores and clothing and accessories stores.

Smaller sales advances were noted in sporting goods office supplies, hobby, music and book stores and in food and beverage stores.

Consumers reduced their spending in pharmacies and personal care stores in July, following a strong 1.9% jump in the previous month. Sales were also down in the automotive sector, despite a 1.4% sales gain enjoyed by new car dealers in July.

Retail sales growth strongest in British Columbia

Retailers reported sales increases in seven provinces in July, with those in British Columbia enjoying the strongest growth. Retail sales jumped 1.2% in British Columbia, the sixth consecutive monthly increase.

In July, consumer spending in retail stores was also strong in New Brunswick and Alberta, with sales up 0.8% in both provinces.

For more information, contact Paul Gratton (613-951-3541), Distributive Trades Division.

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© 2004, Statistics Canada.