June Retail Sales Index Report unexpectedly declined in June

Retail sales in Canada unexpectedly declined in June, adding to signs that the Canadian economy is struggling to pick up momentum. Ottawa-based Statistics Canada reported today that retail sales fell by 0.4 percent in June, following a revised gain of 0.2 percent the previous month. Sales excluding autos also declined 0.4 percent in June. The latest figures fall well short of consensus forecasts, as economists surveyed by Bloomberg News had projected growth of 0.1 percent from a month ago, and 0.2 percent excluding autos.

http://www.bloomberg.com/news/2012-08-22/canada-june-retail-sales-index-report-text-.html

 

Raja Shnoudeh

Raja Shnoudeh

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CENTURY 21 Heritage Group Ltd., Brokerage*
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