Retail sales advanced in almost all sectors in May, marking the largest monthly sales increase in almost a decade.
Total retail sales rose 2.8% to an estimated $35.0 billion in May.
The Quebec public service pay equity settlement was a key factor in May's retail sales. Sales in this province surged 4.9% in May, the strongest monthly sales growth since February 1998. Excluding Quebec, retail sales rose 2.2%.
Now, I'm not particularly used to crunching these kinds of numbers, but this seems pretty optimistic.
More numbers coming on GDP, prices, and employment, plus the Business Conditions Survey, all before the end of the month, so we'll see how it plays.