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2026-05-22 21:14:04
[Canadian Retail Sales Rise for Seventh Consecutive Quarter, But Soaring Gas Prices Begin to Crowd Household Budgets] ⑴ Statistics Canada released preliminary estimates on Friday showing that retail sales rose 0.6% month-over-month in April, with March's increase revised upward to 0.9%. The March figure was higher than the median forecast of 0.6% in an economist survey. ⑵ Retail sales grew 2.1% in the first quarter of this year, marking the seventh consecutive quarter of expansion, significantly higher than the 0.4% increase in the last three months of 2025. In terms of volume, first-quarter retail sales still grew 1.2%, but the historic surge in gasoline prices in March played a significant role in this growth. ⑶ The March report indicated that rising gas prices at gas stations may be increasingly squeezing other consumer spending, and the broader consumer demand strength shown in the previous two months appears to be beginning to weaken. The preliminary April figures are based on feedback from 52.1% of surveyed businesses; Statistics Canada did not provide specific details.
