Canada Retail Sales Slow After 2 Months Of Sky-High Growth - Statistics Agency

Umer Jamshaid Published September 18, 2020 | 11:00 PM

Canada Retail Sales Slow After 2 Months of Sky-High Growth - Statistics Agency

TORONTO (UrduPoint News / Sputnik - 18th September, 2020) Canadian retail sales significantly slowed after two months of blistering growth, a Statistics Canada retail trade report showed on Friday.

Retail sales rose by only 0.6% to nearly $54 billion in July compared to spikes of 24% in June and 18 percent in May.

Preliminary data showed August rose by just 1.1%, signaling the sudden malaise will continue.

The July rise was led by higher sales at motor vehicle dealers and gas stations, according to the data.

Apart from the two automotive-related subsectors, core retail sales declined by 1.2%. Sales were up in 6 of 11 subsectors in July, the Federal statistics agency said.

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