Retail Sales Slow In Canada After Strong Run Peters Out

The recovery in Canadian retail sales is fizzling. Sales eked out a gain of 0.4% in August, Statistics Canada said Wednesday in Ottawa. That fell short of the 1.1% median forecast in a Bloomberg survey of economists. Excluding vehicles, receipts rose 0.5%, versus a forecast gain of 0.9%. After cratering in April on mandatory lockdowns, retail sales increased for four consecutive months through August, recovering to pre-pandemic levels in all major categories except cars, gasoline and clothing. But the pace of growth has slowed dramatically since the early summer, and a preliminary estimate from the agency showed receipts were flat in September. Read more at Bloomberg.