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Canada's Retail Sales Drop Amid Economic Woes

3/21/2025

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Summary

Story summary

Canada's retail sales took a hit in January 2025, plummeting 0.6% to CAD 69.4 billion, largely due to sluggish motor vehicle sales. With an anticipated additional decline of 0.4% in February, worries mount over consumer spending and economic growth, exacerbated by trade uncertainties and the conclusion of temporary tax breaks.

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Story summary

Canada's retail sales took a hit in January 2025, plummeting 0.6% to CAD 69.4 billion, largely due to sluggish motor vehicle sales. With an anticipated additional decline of 0.4% in February, worries mount over consumer spending and economic growth, exacerbated by trade uncertainties and the conclusion of temporary tax breaks.