New cars, trucks sales drive re­tail up in May

The Guardian (Charlottetown) - - BUSINESS -

OT­TAWA - Shop­pers buy­ing new cars and trucks helped boost re­tail sales in May by 1.0 per cent to $43 bil­lion in Canada, the third in­crease in four months, Sta­tis­tics Canada said Thurs­day. The rise in re­tail sales was bet­ter than the 0.5 per cent in­crease that had been ex­pected by econ­o­mists, ac­cord­ing to Thom­son Reuters. “While not a big up­side sur­prise, the mildly en­cour­ag­ing re­tail re­sults break a run of sour news for the Cana­dian econ­omy,” BMO chief economist Doug Porter wrote in a com­men­tary. “The de­cent re­sult also plays up the fact that the con­sumer is still do­ing its job - now the econ­omy needs some se­ri­ous help from non­re­source ex­ports.”

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