By Steve Scherer and Dale Smith OTTAWA (Reuters) - Canadian June retail sales grew by 0.1% from the previous month driven mostly by car sales, data ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Steve Scherer and Dale Smith
The slight June gain was led by increases at motor vehicle and parts dealers as well as gasoline stations and fuel vendors, Statistics Canada said. Excluding sales of cars and car parts, retail sales declined 0.8% in June. "Canadian consumer spending continued to sputter in June," Tiago Figueiredo, an economist at Desjardins Group, said in a note."The latest data will probably leave central bankers comfortable keeping rates on hold for the remainder of the year."
After the retail sales release, money markets pared bets for a quarter-percentage-point rate hike in September. They saw a 19% probability after the release of the data, compared with a 27% probability beforehand.
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