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June 19, 2020
By Kelsey Johnson
OTTAWA (Reuters) – Canadian retail sales plummeted 26.4% in April, posting a record decline for a second consecutive month, as the coronavirus pandemic continued to wallop the economy, Statistics Canada data showed on Friday.
Sales were down in all 11 subsectors for the first time in 27 years, with motor vehicle and parts dealers taking the largest hit in April.
Analysts in a Reuters poll had forecast a 15.1% decline for April, while a Statistics Canada flash estimate released last month predicted a 15.6% decline. In a preliminary flash estimate, Statistics Canada said retail sales in May could rise by 19.1%.
“Retailers were devastated by the shutdowns and physical distancing measures employed in April,” Royce Mendes, senior economist at CIBC Capital Markets, said in a note.
“It wasn’t all bad news in the report though. Retailers who had an online presence were able to capitalize on some of the shifts in buying patterns.”
Online sales surged to a record high, representing 9.5% of the total retail market, Statscan said. It revised March’s record decline to 9.9% from an initial 10%.
(Additional reporting by Dale Smith and Julie Gordon in Ottawa; Editing by Chizu Nomiyama and Paul Simao)
