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Retail Spending Rebounds as Investment Activity Gradually Strengthens
Consumer spending jumps to close out the second quarter. Canadian retail activity strengthened considerably in June, with inflation-adjusted sales up 1.5 per cent — the largest monthly gain since December 2024. In nominal terms, sales rose 0.6 per cent, while excluding motor vehicles and gasoline stations, receipts rose a stronger 1.2 per cent. Gains were relatively broad-based, led by clothing and accessories, sporting goods, and building materials, while e-commerce sales surged 10 per cent amid the earlier timing of Amazon Prime Day. Despite June’s strong finish, retail sales volumes increased at a more moderate 1.8 per cent annualized pace during the second quarter, reflecting softer consumer spending earlier in the period.