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Canada's Vehicle Sales Continue to Decline in May, Says Scotiabank

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Canadian vehicle sales posted a fourth consecutive monthly decline in May, according to Desrosiers, which put the numbers on its website late Tuesday, said Scotiabank.

The decline of a little over 2% month-over-month seasonally adjusted was "modest," but the trend from peak sales in January appears to be a total decline approaching 15%, noted the bank.

Admittedly, that's coming off a temporary peak and factors like harsher-than-usual winter and spring weather may have been among the factors that held sales back "somewhat," stated Scotiabank.

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Brief: Canada's Q1 Labor Productivity Slips 0.5% Q/Q; Scotiabank Says Consensus Saw 0.3% Q/Q Rise

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