Reported about 1 month ago
Canada's retail sales saw a modest increase of 0.4% in August, primarily driven by a rise in vehicle sales; however, most sectors experienced declines, reflecting strains in consumer spending. Analysts had expected a growth of 0.5%, but sales excluding automobiles dropped by 0.7%. This data indicates ongoing challenges for consumer spending, prompting discussions about potential interest rate reductions as the economic outlook remains uncertain.
Source: YAHOO