Canadian retail sales declined 0.2% to $66.4bn in March due to reduced spending on furniture, home furnishings, electronics, and appliances.
Canadian retail sales slowed in March as shoppers spent less at furniture, home furnishings, electronics and appliances retailers, according to Statistics Canada. Retail sales dropped 0.2% to $66.4bn in March, however, an early estimate for April indicates an increase of 0.7%. This slowdown in March reflects consumer caution due to mortgages coming up for renewal at higher interest rates.
May 24, 2024
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