Reported about 1 year ago
According to an advance estimate from Statistics Canada, Canadian retail sales dropped by 0.6% in May, negating most of the gains seen in April. The decline, the largest since January, was led by a decrease in car dealer sales. Economist reactions suggest that consumer spending remains weak, with the Bank of Canada likely considering further rate cuts to stimulate spending in light of below-average retail sales growth compared to population growth.
Source: YAHOO