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Retail sales in Canada have their worst year in a decade [Toronto Globe and Mail (Ontario, Canada)]

Canadian Imperial Bank of Commerce (CM) 
Last canadian imperial bank of commerce earnings: 2/26 05:53 am Check Earnings Report
Retail sales in Canada have their worst year in a decade Retail sales were little changed in December, capping off the worst year for growth in a decade and raising some concern about the Canadian consumer’s ability to keep spending. Receipts totalled $51.6-billion in December, essentially flat from the previous month, and down from a 1.1-per-cent gain in November, Statistics Canada said Friday. Excluding the auto sector, retail sales increased by 0.5 per cent, supported by a real-estate rebound that’s resulted in stronger sales at building material and furniture stores. The longer-term trend, however, points to a fatigued consumer. Retail sales increased by 1.6 per cent in 2019, the slowest growth since Canada was mired in an economic downturn in 2009, while volumes have stalled for about three years, despite an influx of new consumers as the country welcomes record numbers of immigrants. “[T]he latest numbers do little to change the overall narrative that Canadian households won’t b Show less Read more
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