A See-Saw End to the Summer for Canada's Retailers
Dow Jones
Sep 24
1015 ET - There weren't many positives in Canadian retail sales data for July, with sales down 0.7% on-month and an even weaker 1.1% in volume terms, CIBC Capital Markets Katherine Judge notes. However, the advance estimate for August looks better, with sales up an estimated 1.3%. Judge doesn't expect the momentum to last as lingering trade uncertainty and a related deterioration in the labor market will weigh on discretionary spending ahead. And that means that the Bank of Canada won't be raising interest rates in the near term, the economist says.
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