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Retail Sales Show Signs Of Easing Spending

CANADA
  • Rate of domestic spending increase edges down as retail sales increase +0.2% May month-on-month versus +1% April month-on-month.
  • Retail gains were led by increases in motor vehicle and parts dealers and food and beverage retailers.
  • Core retail sales were unchanged in May.
  • Flash estimate of retail sales states sales were unchanged in June. 
  • BOC lifted the policy rate 25BPs to 5% last week, partly on stronger-than-expected domestic spending.
  • Canadian new home prices increase +0.1% month-on-month in June for second consecutive month.

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