Economics
Retail Sales Slow in Canada After Strong Run Peters Out
- Receipts fell short of expectations in August with 0.4% gain
- Outlook for spending is bleak amid surge in Covid-19 cases
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The recovery in Canadian retail sales is fizzling.
Sales eked out a gain of 0.4% in August, Statistics Canada said Wednesday in Ottawa. That fell short of the 1.1% median forecast in a Bloomberg survey of economists. Excluding vehicles, receipts rose 0.5%, versus a forecast gain of 0.9%.