Canada Retail Sales Rise 0.6% in April Amid Surging Gasoline Prices

According to Statistics Canada, retail sales in Canada grew 0.6% month-over-month in April, following a 0.9% increase in March, the agency announced on May 22.

First-quarter retail sales expanded 2.1%, marking the seventh consecutive quarter of growth. However, the surge in gasoline prices in March is increasingly eroding household budgets and dampening broader consumer spending momentum.