Canadians are holding the line on spending as they struggle with higher interest rates and inflation
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New retail sales data out on Friday showed Canadians are holding the line on spending as they struggle with the double whammy of higher interest rates and inflation.
Retail sales for May contracted 0.8 per cent, falling more than the 0.6 per cent drop estimated by economists, Statistics Canada said, with a flash estimate from the data agency calling for a 0.3 per cent pullback in June.
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