Canada's Retail Sales Down 0.3% in June Due to Autos, Expected to Rise 0.6% in July
Friday, 23 August 2024, 05:40
Retail Sales Decline in Canada
According to Statistics Canada, the retail sales in Canada experienced a 0.3% dip in June, resulting in sales totaling C$65.73 billion (approximately $48.37 billion). This drop was primarily led by lower sales at motor vehicle and parts dealers.
Future Projections
Looking ahead, there is optimism with projections indicating a potential increase of 0.6% in July. This anticipated uptick suggests a possible recovery, contingent on strong consumer demand and market conditions.
- Lower Auto Sales Driving Down Overall Figures
- Consumer Spending Trends Affecting Retail Performance
- Analysts Predict Recovery in July
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.