Economics

Retail Sales in Canada Return to Pre-Covid Levels, Then Stall

A shopper browses clothing at a second hand store in Kensington Market in Toronto, Ontario, Canada.Photographer: Brent Lewin/Bloomberg

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By Shelly Hagan

August 21, 2020 at 12:53 PM UTC

This article is for subscribers only.

Retail sales in Canada exceeded pre-covid levels of spending in June as more shops reopened, however preliminary estimates from July suggest the momentum may have been short-lived.

Retailers sold 23.7% more goods in the month versus May, Statistics Canada said Friday in Ottawa. That was in line with the median forecast in a Bloomberg survey, which called for a 24.5% jump. Preliminary estimates from the agency showed receipts flagged in July, rising a measly 0.7%.