A total of $6.2 billion was spent on retail sales good in British Columbia in April, which was an increase of 2.4% in April and nearly 8% year-over-year, giving the province the strongest increase in the country for the month, according to Statistics Canada data released June 22.
Across the country, sales increased 0.9% to $44.3 billion in the month. Sales were up in 7 of 11 subsectors. The biggest driver behind the gain was a 6% increase in gas station sales. This was the first time there was an increase in this area since June 2015. This was driven by an 8.9% jump in the price of gas, as reported in the previously released consumer price index data for April.
“Canadian shoppers weren’t going to be held down for long, and April retail sales saw a nice bounce back from a weak end to the first quarter,” CIBC economics reported in a note to investors.
Read the full article on BIV.com.