Economics
Canadian Retail Sales Bounce Back After Second-Wave Lockdown
- Estimated gain of 4% in February suggests worst is over
- But third wave and slow vaccine rollout could derail progress
A man walks his dog past a Toronto jewelry store in January. Retail sales fell 1.1% on the month, with many businesses closed because of Covid-19.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Canadian retailers got a boost in February after public-health authorities lifted lockdowns.
Retail sales rose 4.0% on the month, preliminary data released on Friday by Statistics Canada show. The bounce-back comes after a 1.1% drop in receipts in January and a 3.7% decline in December, when many businesses were forced to close because of a second wave of Covid-19.