Indicators
Retail Sales Fall in Canada With Higher Rates Pinching Consumers
Retail sales fell 1.4% in March, according to a preliminary estimate from Statistics Canada.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Canada’s consumers are starting to feel the pinch of higher interest rates as they pull back on spending.
Retail sales fell 1.4% in March, according to a preliminary estimate released by Statistics Canada, which would be the biggest monthly decline since last July. That followed a 0.2% decrease in February receipts, and a deeper-than-expected 0.7% drop in purchases excluding autos.