Retail Sales In Canada Plunged During Third Wave Of Covid-19

Canadian retail sales plunged at the start of the second quarter as the economy was hit by a third wave of Covid-19 restrictions. Receipts fell 5.7% in April after many provinces introduced strict measures to curb virus cases, Statistics Canada said Wednesday. Sales fell further in May, down about 3.2%, according to a preliminary estimate from the agency. The sharp decline in those two months erased much of the gains recorded earlier this year, when sales had rebounded sharply to new records. Read more at Bloomberg.