Canadian retail sales edged up 0.1% in June from May, as auto sales rebounded, but the underlying trend was still weak as higher interest rates weighed on consumer spending, Statistics Canada said on Thursday.
Economists were expecting a 0.2% increase, according to a Reuters poll, after sales fell 0.2% in May. Excluding autos, sales fell 0.4% in June.
Clothing and accessories stores led the decline, with sales falling 2.7%. Sales at general merchandise stores dropped 1.0%.
Sales at food and beverage stores rose 0.8%, while sales at gasoline stations increased 2.8%.
Despite the small gain in June, retail sales in volume terms were down 0.5% in the second quarter compared with the first quarter, and were down 2.6% compared with the second quarter of 2022.
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