Canada Retail Sales Are Flat, Cementing October Rate Pause
- Receipts for retailers were flat in September, estimate says
- Sale volumes fell 0.7% in Aug. despite high population growth
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Canadian consumers are tightening their purse strings, cementing a case for the Bank of Canada to hold interest rates steady next week.
Receipts for retailers were flat in September, according to an advance estimate from Statistics Canada released Friday. That followed a 0.1% decline a month earlier, which matched the median estimate from economists in a Bloomberg survey.