Canadians are still spending despite high inflation and interest rates, strengthening case for another Bank of Canada hike. Read more
released on June 21. In April, retail sales increased 1.1 per cent to $65.9 billion, surpassing the agency’s previous advance estimate of 0.2 per cent — the same figure analysts polled by Reuters expected — and reversing declines in February and March.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
The numbers look strong, but they’re not entirely great news, Desjardins economist and senior director Randall Bartlett said. “Total retail volumes edged higher by a much more modest 0.3 per cent, meaning April’s bumper advance was largely a price story,” he said in a note to clients.
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