Retail trade dropped by 5.5% in April, reducing the previous two monthly expansions, as subsectors were down.
As provinces and territories are slowly easing restrictions on non-essential retail, restaurants and other non-essential services, we can see the negative impact on businesses.
Many provinces and territories reinstated tighter public health measures in April which was aimed at slowing down the third wave of COVID-19 spread. Now we are seeing clothing and clothing accessories drop by 21%, sporting goods, books and other hobby materials by 18% and more. To offset some of the decline, food and beverages were up.
Real estate has also seen some drop. Rental and leasing contracted 0.7% in April, down for the first time since October 2020. Home resale activity in the majority of Canadian urban centres, mostly in Ontario and British Columbia, slowed down in April.