Canadian retail sales advanced in May for a second month, as rising prices continued to fuel sales at gas stations.
Retail sales rose 0.2 percent in May, after a gain of 0.8 percent a month earlier, Statistics Canada reported Friday, even as car sales slumped 2 percent during the month. Excluding autos, sales were up 0.9 percent. Gasoline stations recorded a 2.3 percent gain.
Combined with strong gains in January and February, retail sales this year are up 4.9 percent, the best start to a year in six years.
Economists surveyed by Bloomberg forecast retail sales would be unchanged, and excluding autos would rise 0.3 percent.
News by Bloomberg, edited by ESM. To subscribe to ESM: The European Supermarket Magazine, click here.
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