Canada's retail sales fell 0.8% in May, led by supermarkets and grocery retailers, marking the first decline since February.

Canada's retail sales fell by 0.8% in May, led by a decrease in sales at supermarkets and grocery retailers, as consumers cut spending amid food inflation and high interest rates. This marks the first decline in retail sales since February. Analysts had forecast a 0.6% drop in sales for May. The decline in May follows a 0.6% increase in sales in April, according to Statistics Canada.

July 19, 2024
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