Retail sales drop back to underlying trend

The small decline in August retail sales volumes, combined with the meagre gain in wholesale sales reported earlier this week, supports our view that the economy lost some momentum in the third quarter. Overall, the Bank of Canada's third-quarter GDP growth estimate of 2.5% now looks too high and should be revised down to 2.0% annualised.

Subscriber content

Read this in full, free

Start a free trial and use one of your 10 free starter credits to unlock this piece.


Free. 10 articles. No card required.
By completing this form you are agreeing to our Terms and Conditions for the provision of a free trial of Capital Economics' services. We take your privacy seriously and will not share your details with others without your consent. By providing your details, including your email address, you are consenting to Capital Economics sending you macroeconomic commentary and analysis. You can unsubscribe at any time. See our Privacy Policy for more information.

Already a client or trialist? Log in to read this.