Canada Retail Sales on Pace for Third Quarter Rebound
- Sales grow in July and August after two weak quarters
- Report sends more upbeat economic signal than GDP data
The report sends a more upbeat signal about the strength of the Canadian economy than the latest gross domestic product data.
Photographer: Chloe Ellingson/BloombergThis article is for subscribers only.
Canadian retail sales likely rose sharply in August after a solid July gain, indicating a strong rebound after two consecutive quarters of shrinking sales.
August’s 0.5% rise, based on an advance estimate from Statistics Canada released Friday, is just the third monthly sales gain this year. That follows a 0.9% boost the previous month, which beat expectations for a 0.6% rise in a Bloomberg survey of economists.