Canadian Retail Sales Slide After Strong October Growth
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Receipts for retailers dropped 0.5% last month, according to an advance estimate released Tuesday by Statistics Canada. That erased some of the 1.4% growth in October -- the largest increase in five months that was led higher by sales at gas stations and supermarkets.
The median estimate in a Bloomberg survey of economists and the statistics agency's own estimate called for a 1.5% advance in October sales. Excluding auto and parts, retail sales rose 1.7%, exceeding the 1.3% gain expected by economists.