Reuters
Canada retail sales seen slumping in March
OTTAWA (Reuters) -Canadian retail sales dipped by 0.2% in February from January, and are expected to drop another 1.4% in March, according to data from Statistics Canada on Friday, indicating high interest rates may be starting to dent consumer spending. February’s decline, smaller than analysts’ forecast of a 0.6% fall, was led by lower sales at gasoline stations and fuel vendors as well as and general merchandise retailers, Statscan said. The estimated 1.4% retails sales decline in March, which could change when data is released next month, would be the biggest drop in 8 months.