Latest data released on April 24, 2024, shows that Canadian retail sales experienced a slight decrease in February 2024. The current indicator has dropped to -0.1%, compared to the previous indicator of -0.3% in January 2024. This decline marks a slight slowdown in the retail sector's performance on a month-over-month basis.
The month-over-month comparison reveals a pattern of deceleration in retail sales in Canada. Despite the slight decrease, economists are closely monitoring the situation to assess any potential long-term impacts on the country's economy. As consumer spending plays a crucial role in driving economic growth, experts will be paying attention to future retail sales data to gauge the overall health of the Canadian economy.
