Canada retail sales fell in July amid rate increases
By Julie Gordon OTTAWA - Canadian retail sales fell more than expected in July, though they likely rebounded slightly in August, Statistics Canada data showed on Friday, indicating interest rate increases by the Bank of Canada are slowing consumer spending. Retail sales fell 2.5% in July, the first decline in seven months and missing analyst forecasts of a 2.0% slump, Statistics Canada
Statistics Canada says retail sales fell 2.5 per cent to $61.3 billion in July
Retail sales fell 2.5 per cent to $61.3 billion in July, the first drop in seven months as sales at gasoline stations and clothing and clothing accessories stores decreased, Statistics Canada said Friday.