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Bloomberg
Canadian retailers emerged from months of slumping sales with a sharp rebound in February that may ease some worries about consumer weakness.
Retailers posted a 0.8 percent gain in sales on the month, Statistics Canada said from Ottawa, versus economist expectations for a 0.4 percent gain. February’s increase was the strongest since May 2018, and follows six straight months of negative readings that fuelled concern about slowing household consumption.
A pick-up in receipts was expected on the back of rising prices for gasoline, but the numbers suggest Canadians were in a spending mood beyond the extra cost of filling up their tanks. The retail figures will restore confidence the nation’s economy is poised for a better start to this year, after the economic expansion nearly came to a halt at the end 2018.