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Canada retail sales rose 0.4% in July and beat June estimate
Canadian retail sales rose by more than expected in June, with data also pointing to a rebound in activity in July. Receipts for retailers jumped 0.4 per cent last month, the strongest pace since April, according to an advance estimate from Statistics Canada released Wednesday. That followed a 0.1 per cent increase a month earlier, which beat the median estimate for a flat reading in a Bloomberg survey. In volume terms, retail sales edged down 0.2 per cent in June. Only three of nine subsectors saw higher sales in that month: motor vehicle and parts dealers, sporting goods stores and gas stations. Excluding autos, ... (full story)