The FINANCIAL — Canada retail sales unexpectedly fell in April, adding weight to worries the economy has stumbled out of the gate at the start of the second quarter and consumer spending remains in a low gear, according to Nasdaq.
The value of retail sales dropped 0.1% to a seasonally adjusted 42.48 billion Canadian dollars ($34.74 billion), Statistics Canada said on June 19. Expectations were for a much healthier 0.7% gain, according to economists at Royal Bank of Canada.
Retail sales volumes fell in April 0.2%.
Lower sales at food stores, gasoline stations and electronics outlets were largely responsible for the decline in April.