Investors who were anticipating a modest growth in retail sales in Canada today were found in disarray after news revealed almost zero growth in that sector of the northern giant’s economy.
Forecasts had called for approximately a half-percent growth in both the core and nominal readings. Actual results for both, however, came in at 0% and 0.3%, respectively. The stagnation has so far put a damper on the Canadian dollar’s (CAD) recent uptick, causing many investors to place additional funds into safe haven assets.
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