After March and April’s sharp declines, retail sales were up 18.7% in May to $41.8 billion. Motor vehicle and parts dealers led the growth, followed by an increase in sales in almost all other subsectors. Although sales increased in May, retail sales remain 20.0% below February levels. The sales growth was based on 77% of stores being open, the average shutdown time has been five days, retail sales were up in almost every subsector in May, clothing and clothing accessories (+92.6%), sporting goods, hobby, book and music (+101.2%) as well as furniture and home furnishings (+58.6%) stores all experienced significant increases in sales, following large drops in April.
The Canadian dollar responded positively gaining against the USD, expect the CAD to range between 1.3420-1.3470 for the rest of the day.
Currently Close Range
USDCAD 1.3438 1.3535 1.3434-1.3537
EURCAD 1.5460 1.5494 1.5377-1.5498
GBPCAD 1.7130 1.7135 1.7059-1.7159
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