Retail Sales Down 26% in April

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CBJ — Retail sales across the country plummeted by more than 26% in April due to the effects of the COVID-19 pandemic and the associated lockdowns and social distancing.

According to figures released by Statistics Canada there was a 26.4% decline to $34.7 billion in April, and a cumulative 34% since physical distancing measures were implemented in mid-March.

If there is a bright side, StatsCan says early estimates point to a 19% increase in retail sales in May, although final figures won’t be known for several weeks as data is accumulated.

In terms of volume, retail sales were off 25% in April after a 8% decline in March for a combined 31% overall since the onset of the global pandemic was first acknowledged in mid-March.

@CanBizJournal

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