Reported 6 months ago
Canadian retail sales in April experienced a 0.7% increase, rebounding from a weak first quarter where sales were down 0.2%. The rise in retail sales was primarily driven by a 1% growth in receipts at motor vehicle and parts dealers, marking the largest increase in the retail sales data. However, excluding auto sales, receipts fell by 0.6%. Economists suggest that despite the positive momentum in April, consumer spending may slow down in the second quarter, giving the Bank of Canada reason to consider cutting interest rates.
Source: YAHOO