July 2020 StatsCan Report Shows Slowing Bounce-Back

While June 2020 retail sales (unadjusted) showed considerable upside compared to the previous month, the rate of the bounce-back has slowed considerably with the release of JULY 2020 Retail sales by StatsCan. 

From the APRIL low of $43.6 M, May retail sales increased 35.8% and June increased 19.0% over May. July numbers however are a stark reminder that full recovery of economic activity may not yet be in the cards.  July retail sales reached $57.2 M a mere 1.7% increase.   

Source:  StatsCan retail trade sales by Province and Territory

Looking for good news, the July 2020 result  did post 4.5% higher than July 2019.

Taking a sector-specific view July 2020 Canadian Health and Personal Care(H&PC)  retail sales show a similar trend to that of all retail sales.

June H&PC sales showed a strong bounce back of 10% from May, but the July sales rebound, while still positive, was only up 1.5% compared to the prior month. 

H&PC retail category is a broad swath of personal care retail operations that includes pharmacies and  optical stores but excludes mass merchandisers and private optometry clinics. As such, the H&PC retail category might not be an exact benchmark for individual practices.

Not all regions across the country shared equally in the relatively positive numbers. 

Source:  StatsCan retail trade sales by Province and Territory

British Columbia and Quebec lead the way with +5.5% and +4.2% month over month sales growth respectively while Ontario and Man-Sask showed declines of 1.3% and 2.6% respectively in July.

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