Canadian Retail Sales Figures Indicate Economic Slowdown

Canadian retail sales underperformed expectations in May and were likely unchanged in June, data showed on Friday, pointing toward a slowdown in economic growth that would allow the Bank of Canada to leave interest rates unchanged.

Sales rose 0.2% in May from April, less than the 0.5% increase forecast by analysts in a Reuters survey. The rise was led by increases at motor vehicle and parts dealers as well as food and beverage retailers, according to Statistics Canada.

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