{"id":68913,"date":"2022-07-22T20:59:33","date_gmt":"2022-07-22T16:59:33","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=68913"},"modified":"2022-07-22T20:59:36","modified_gmt":"2022-07-22T16:59:36","slug":"canadas-consumer-expenditures-surged-in-may","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/canadas-consumer-expenditures-surged-in-may\/07\/22\/market-updates\/","title":{"rendered":"Canada\u2019s consumer expenditures surged in May"},"content":{"rendered":"\n<p>Data released in Canada on Friday has showed that retail sales rose 2.2% in May surpassing expectations of a 1.6% gain. Analysts at the National Bank of Canada point out sales were pushed up at gasoline stations and motor vehicle\/parts dealers. They consider a strong labor market will compensate higher prices and rising interest rates. <br><br><strong>Key Quotes:<\/strong><\/p>\n\n\n\n<p><br>\u201cThe remainder of the retail sales report was not too shabby as witnessed by core retail sales (ex. autos\/gas) which increased 0.6% in May, a fifth consecutive monthly increase. The national diffusion of retail sales was also a bright spot of the report as all provinces reported gains in the month.\u201d<br><br>\u201cThere was some optimism to be found by the increase in volume retail sales which rose 0.4% in the month. Including the rise in the previous month, real retail spending increased 2.1% annualized in the second quarter of the year assuming growth is flat in June. The Statistics Canada preliminary estimate for June suggests a 0.3% increase in nominal sales.\u201d<br><br>\u201cConsumer expenditures on goods came out better than expected although the prior month observed a small downward revision. The May print was pushed up by sales at gasoline stations and motor vehicle\/parts dealers.\u201d<br><br>\u201cWhile gas receipts should support nominal retail sales with rising gasoline prices in June, there could be a reduction in spending in other sectors as consumers deal with higher prices and rising interest rates. Hopefully these headwinds are compensated by a strong labour market and a still high savings rate.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Data released in Canada on Friday has showed that retail sales rose 2.2% in May surpassing expectations of a 1.6% gain. Analysts at the National Bank of Canada point out sales were pushed up at gasoline stations and motor vehicle\/parts dealers. They consider a strong labor market will compensate higher prices and rising interest rates. &hellip;<\/p>\n","protected":false},"author":13,"featured_media":37275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6895,9844],"class_list":["post-68913","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-canada","tag-consumer-expenditures"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=68913"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68913\/revisions"}],"predecessor-version":[{"id":68917,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68913\/revisions\/68917"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/37275"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=68913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=68913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=68913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}