OTTAWA — Statistics Canada says retail sales rose 0.3 per cent to $70.1 billion in April, helped by gains in sales at new and used car dealers, however economists say they expect a slowdown ahead.
The agency says its preliminary figures for May point to a drop of 1.1 per cent for that month.
Andrew Grantham, senior economist at CIBC Capital Markets, said in a note to clients Friday that as consumers continued to spend in April, the decline in May retail sales estimates “provides another indication that the economy is heading for a stall in Q2.”
“That renewed consumer caution amid tariff uncertainty and a weakening
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