Choose your settings
Choose your language
Economic News

Canada: Falling Retail Sales Show Economy is Weakening

September 23, 2022
Marc Desormeaux
Principal Economist

Canadian retail sales fell by 2.5% m/m in July—the first decline in seven months. Volumes plunged by 2%, the largest monthly drop outside of a recession or the pandemic since 1998. The print is the strongest signal yet that Canadian households are pulling back on spending amid decades-high inflation and sharply higher borrowing costs.

PDF Publication

See the full publication in PDF.