Shoppers spent more in Alberta in June
Retail sales increased by 1.6%, going from $7.4 billion in May to $7.5 billion in June
By Rob Roach, ATB Economics 16 August 2021 1 min read
Please note: The Owl is going on vacation, but will be back on Wednesday, September 8, 2021.
After three months of slippage, seasonally adjusted retail sales in Alberta gained some ground in June.
Sales increased by 1.6%, going from $7.4 billion in May to $7.5 billion in June.
Total sales over the first half of 2021 came to $44.5 billion. This was 20.2% higher than the total over the same period in 2020 when pandemic-related public health measures required some stores to temporarily close their doors to in-person shopping.
After adjusting for inflation, retail sales over the first six months of the year were finally higher than they were during the boom in 2014.
If, however, we also adjust for population growth, sales are still 7.6% below the peak reached in 2014.
Nationally, retail sales were up 4.2% to $56.2 billion in June. Year-to-date sales were 17.9% ($50.2 billion) higher than last year.
Answer to the previous trivia question: The Central Mortgage and Housing Corporation (renamed the Canada Mortgage and Housing Corporation in 1979) was created on January 1, 1946.
Today’s trivia question: Why is ATB’s daily economic comment called The Owl?
So you don’t have to wait two weeks for the answer: It’s called The Owl because Alberta’s official bird is the great horned owl.]