Canada's Retail Sales Shrink as Tariffs Bite, June Expected to Improve
Canada's retail sales shrank by 1.1% in May as consumers curtailed car purchases and spent less at supermarkets, convenience stores and on alcohol, data showed on Thursday.
Retail sales - closely watched by economists as they give an indication of GDP trends - had held up fairly strongly in the last two months, as concerns around the timing and magnitude of tariffs threatened by U.S. President Donald Trump brought forward purchases.
But sales weakened as the impact of tariffs started hitting consumers...
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