Canada’s economy stalled in April on a slide in retail sales, suggesting the pace of growth is slowing and that the central bank may think twice about raising interest rates again this month.
Statistics Canada said on Wednesday real gross domestic product was flat in the month after seven straight months of expansion and the fastest growth in a decade in the first quarter.
The Canadian dollar sagged after the report, which disappointed market expectations for 0.2 percent growth.
Consumers bought fewer new cars and less clothing in April, sending sales in the retail sector down by 1.7 percent, eroding most of the previous month’s gains. Read More…