OTTAWA Aug 22 Consumers once again bolstered
the Canadian economy in June, with retail sales rising for the
sixth straight month, by a stronger-than-expected 1.1 percent to
a new record, according to Statistics Canada data released on
The median forecast in a Reuters survey of analysts had been
for only a 0.3 percent rise. Statscan also revised May's
increase to 0.9 percent from 0.7 percent.
The volume of sales, which is adjusted for price and is
relevant for calculating real growth in gross domestic product,
rose by 0.6 percent.
The stretched household sector has been mainly responsible
for growth in recent years, with the Bank of Canada hoping that
the drivers of growth will rotate to exports and business
investment - a rotation that has been slow to materialize.
The first six months of 2014 showed sales 4.7 percent higher
than in the same period in 2013.
(Reporting by Randall Palmer; Editing by Chizu Nomiyama)