22 Aug 2012

Retail spending falls in June

Consumer spending in Canada may be on the downswing highlighted by recent data compiled by Statistics Canada, which found retail sales decreased in June, according to Reuters. The unexpected drop in sales occurred in seven of the 11 subsectors of the retail industry.

Decreases in sales could mean that Canadian companies may be looking for cheap storage in Toronto to keep their excess inventory. Consumer spending must pick up in order to make sure the economy in Canada is able to recover.

"The surprise drop in June sales was broad-based, suggesting households are becoming a little more cautious, though cross-border shopping may have played a role as well," BMO Capital Markets senior economist Benjamin Reitzes wrote in a note to clients. "The constant haranguing by policymakers urging households to borrow more cautiously, along with slowing job growth, has prompted some restraint."

The actual drop in sales from May to June was 0.4 percent  in Canada, while experts believed retail sales would grow 0.1 percent. Despite the decrease in sales, overall retail sales in June were 1.7 percent higher than the previous year.

Jiffy offers businesses plenty of options for Toronto storage, whether one needs to store filing cabinets or office supplies. What's more, the company is currently holding a contest for a new iPad 3, which is a device that just about every business person could use to help improve productivity.

Be Sociable, Share!
Comment

Related Articles [3]

Most Valued Sports Collectibles

October 7th, 2016
Whether you are a dedicated collector or someone who has come into possession of sports memorabilia and collectibles by chance, there are some items which are coveted by...

Hold On To These Collectible PC's

October 3rd, 2016
Old PCs often wind up in storage. The personal computer, in the age of handheld devices and smartphones that let you take professional-grade photographs, seem positively...

Collectible Luggage from Around the World

January 15th, 2014
One of the more affordable collectibles, vintage luggage and purses can be wonderful insights into the styles and aesthetics of various time periods and cultures. From hat...

Leave a Comment






Recent Posts

Blog Categories

Archives

Subscribe to RSS Feeds
Essential SSL