Canadian Retail Sales
Tuesday July 22, 2008
Canadian Retail Sales for May 2008 rose by 0.4 percent led by gasoline sales. With gas prices removed from the results, there was only a tiny improvement in retail sales month over month.
Economic conditions are reasonably tight in Canada and they will be affected by the US economic turmoil as it gets deeper. Retail sales technically posted a gain, but might as well have been flat. With everything being measured by prices, inflation can account for most of what is being sold to the general public as a gain.
The Canadian dollar was mixed against the majors, mostly continuing to look soft.
Economic conditions are reasonably tight in Canada and they will be affected by the US economic turmoil as it gets deeper. Retail sales technically posted a gain, but might as well have been flat. With everything being measured by prices, inflation can account for most of what is being sold to the general public as a gain.
The Canadian dollar was mixed against the majors, mostly continuing to look soft.
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