Canada’s cannabis retail sales grew for the fifth consecutive month in July, topping 440 million Canadian dollars ($326.7 million) to reach the highest level so far in 2024.
According to the latest data from Statistics Canada, total retail cannabis sales in the country’s industry grew by 1.6% compared to June.
Despite the marginal growth, the July figures represented a 3.9% decline compared to the same period a year earlier.
This continues a trend of slowing market growth in Canada, with annual sales down 0.8% so far in 2024.
While provinces like Alberta and Quebec saw year-over-year growth of 5% and 19% respectively, Ontario and British Columbia both reported significant year-over-year declines of 14% and 12%.
This item originally appeared on Business of Cannabis. The full story is available here.
