Canada's Retail Sales Decline 0.7% in March, Signaling Weakening Household Consumption

GateNews
According to Jin10, citing analyst Bradley Saunders from Capital Economics, Canada's retail sales declined 0.7% month-over-month in March on May 22, though below the expected severity. On a nominal basis, retail sales grew 0.9% in March, beating the prior estimate of 0.6%. Preliminary figures showed April sales increased 0.6%. Saunders noted that a 5% jump in gasoline prices last month likely offset gains in actual sales volume.
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