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!

Related Articles [3]

2 Tips For Choosing The Right Packing Supplies

February 12th, 2016
Having a pre-prepared list of all of the packing supplies you will need to move your belongings into a storage unit or a new home will make the move much less stressful. For...

How Renting A Storage Space Helps Your Business’ Revenue

January 15th, 2016
It might not seem immediately obvious, but how you utilize your office space can have a direct and observable impact on your business’ revenue. Make sure that you are...

How To Set Up A Small Office Space

January 11th, 2016
Most of us haven’t attained the cushy corner office yet, complete with sitting area, bar and L-shaped executive desk so we have to make do with less space. This means that...

Leave a Comment

Recent Posts

Blog Categories


Subscribe to RSS Feeds
Essential SSL