P.E.I. retail has been hot, but the party may be over
P.E.I. had biggest growth in the country in first half of the year
Following seven months of strong growth, monthly retail sales on P.E.I. topped $200 million for the first time in March, but have stagnated since then.
P.E.I. sales, as reported by Statistics Canada Tuesday morning, led the country in growth in the first half of the year, up 9.1 per cent over the first half of 2016, as compared to 6.9 per cent nationally.
Much of that increase, however, was about holding onto growth that happened in the second half of last year.
In 2016 retail sales on the Island started strong, but began a slow decline after March before jumping upwards in September. Sales, at just under $183 million in August, began a jagged climb to more than $201 million in March.
But sales were mostly flat in April, and had fallen to under $196 million in June.
Nationally, sales were up in June for the fourth consecutive month.
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