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Canada’s Retail Sales Slump as High Rates Weigh on Shoppers
Canadian consumers likely continued to tighten their belts in June after a sharp spending pullback in May, marking a weak first half of the year for retail sales in the country. Receipts for retailers fell 0.3% in June, according to an advance estimate from Statistics Canada released Friday. That followed a 0.8% drop in May, below expectations for a 0.6% drop in a Bloomberg survey. April’s gain of 0.6% was the only monthly increase in sales so far this year. Receipts fell in eight of nine subsectors in May, led by lower sales at hardware stores, food and beverage retailers and clothing sellers. The only retailers ... (full story)
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- Posted: Jul 19, 2024 11:38am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,979
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