{"id":1654946,"date":"2022-09-23T10:08:18","date_gmt":"2022-09-23T14:08:18","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1654946"},"modified":"2022-09-23T10:08:27","modified_gmt":"2022-09-23T14:08:27","slug":"canada-retail-sales-fell-in-july-amid-rate-increases-2","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/canada-retail-sales-fell-in-july-amid-rate-increases-2\/","title":{"rendered":"Canada retail sales fell in July amid rate increases"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcanada-retail-sales-fell-in-july-amid-rate-increases-2%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1654946&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Julie Gordon<\/p>\n<p>OTTAWA (Reuters) \u2013     Canadian retail sales fell more than expected in July, though they likely rebounded slightly in August, Statistics Canada data showed on Friday, indicating interest rate increases by the Bank of Canada are slowing consumer spending.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Retail sales fell 2.5% in July, the first decline in seven months and missing analyst forecasts of a 2.0% slump, Statistics Canada data showed. Lower gasoline prices drove the decrease, but sales volumes were also down 2.0%.<\/p>\n<p>A preliminary estimate showed August retail sales likely edged up 0.4%.<\/p>\n<p>\u201cCanadians may have started to react to higher interest rates,\u201d Karyne Charbonneau, executive director of economics at CIBC Capital Markets, said in a note.<\/p>\n<p>The Bank of Canada lifted its policy rate by 75 basis points to 3.25% earlier this month and said it expects more increases will be needed. It has so far hiked by 300 basis points in just six months.<\/p>\n<p>While consumers are clearly pulling back on spending, demand is still outstripping supply in the Canadian economy, said Royce Mendes, head of macro strategy at Desjardins Group. <\/p>\n<p>\u201cThe Bank of Canada will have to forge ahead with more rate hikes. But it does leave us with more conviction that a 50bp move in October will be the final increase of this cycle,\u201d he said in a note. <\/p>\n<p>Money markets have priced in a 50 basis points increase in October and high odds of one more 25 basis points move to bring the rate to 4.0% by year-end.<\/p>\n<p>The Canadian dollar was trading 0.3% lower at 1.3528 to the greenback, or 73.92 U.S. cents.<\/p>\n<p> (Reporting by Julie Gordon; Additional reporting by Dale Smith in Ottawa and Fergal Smith in Toronto; editing by Jonathan Oatis)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/canada-retail-sales-fell\/attachment\/stage-two-covid-reopening-in-ontario\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8M0L0-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8M0L0-BASEIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/canada-retail-sales-fell\/attachment\/stage-two-covid-reopening-in-ontario-2\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8M0L2-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8M0L2-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Julie Gordon OTTAWA (Reuters) \u2013 Canadian retail sales fell more than expected in July, though they likely rebounded slightly in August, Statistics Canada data showed on Friday, indicating interest<\/p>\n","protected":false},"author":66,"featured_media":1889164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1654946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/business\/canada-retail-sales-fell\/?utm_source=rss&utm_medium=rss&utm_campaign=canada-retail-sales-fell","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1654946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1654946"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1654946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889164"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1654946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1654946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1654946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}