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Car Purchases Lead 3rd-Straight Gain in Canada Retail Sales

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Canada’s retail sales rose for a third month in July as families spent more on cars and clothes, supporting the view economic growth is on pace for a third-quarter rebound.

Receipts increased 0.5 percent to a record C$43.3 billion ($32.7 billion), Statistics Canada said Wednesday in Ottawa, following a June increase the agency revised lower to 0.4 percent, from 0.6 percent initially.