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July 19, 2024RETAIL TRADE MAY 2024 Monthly (seasonally adjusted May 2024 vs April 2024)
In Nova Scotia retail trade increased 0.6% to $1,798 million. Nationally, retail trade decreased 0.8% to $66.1 billion. One province (Nova Scotia) reported gains in retail trade. Alberta, Prince Edward Island and New Brunswick reported declines.
Year over year (May 2024 vs May 2023)
Nova Scotia retail trade increased 1.1% compared to the same month last year. Nationally, retail trade was up 1.0%. Eight provinces reported year-over-year increases in retail trade. Saskatchewan reported the largest gain and Alberta and British Columbia reported the only declines.
Year-to-date (January-May 2024 vs January-May 2023)
Nova Scotia retail trade increased 2.0% year-to-date. Nationally, retail trade was up 0.9%. Eight provinces reported year-to-date increases in retail trade. New Brunswick reported the largest gain. Alberta and British Columbia reported the only declines.
In dollar terms, motor vehicles/parts ($2,163 million), food/beverage ($1,613 million), gas stations ($1,338 million) and general merchandise stores ($1,128 million) contributed the most to Nova Scotia's January-May sales.
The largest year-to-date increases in percentage terms were reported in gas stations, general merchandise and motor vehicles and parts stores. Electronic/appliances stores, health/personal care stores and sports, books, hobbies and music stores recorded the largest year-to-date declines.
Trends
In recent months, Nova Scotia retail sales have been more volatile than the Canadian average - which is common for a smaller province - and exceeded national retail sales growth in recent months.
E-Commerce
In May 2024, Canada's ecommerce sales decreased 3.6% compared to the previous month, falling to $3.9 billion, or 5.9% of total retail sales.
Source: Statistics Canada. Table: 20-10-0056-01, Monthly retail trade sales by province and territory (x 1,000)
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